Russian President Vladimir Putin and China’s head of state and party leader Xi Jinping have signed agreements in Moscow to expand their strategic partnership until 2030. Russia’s state television broadcast the signing ceremony in the Kremlin on Tuesday.
Two agreements on partnership and on strategic cooperation between the neighbors have been signed, Putin said at a joint appearance. Xi praised the “constructive talks” with Putin and spoke of expanding trade and economic cooperation with Russia.
For example, China wants to supply more electronics, said Xi. Additional Russian gas supplies to China have also been agreed, Putin said. Both states want to expand their transport links, including roads and bridges.
During the negotiations, Putin had already assured the neighbor’s energy-hungry economy that there would be a reliable supply of oil and gas. Russia’s companies are able to meet the Chinese economy’s growing demand for energy, Putin said. By 2030, the gas supply should increase to almost 100 billion cubic meters per year. In addition, 100 million tons of liquid gas would be delivered, but also coal and nuclear fuel.
After the collapse of the European energy market in the course of its war against the Ukraine, the raw materials superpower Russia is increasingly orienting itself towards Asia. China gets the energy at a discount. According to Putin, the trade volume between China and Russia hit a record last year at almost 190 billion US dollars (around 93 billion euros). This year, the value is expected to rise to more than 200 billion US dollars.
China is considered a close ally of Russia. At the same time, Beijing has so far largely complied with the international sanctions against Moscow in order not to become the target of punitive measures itself.
