China-Russia relations: What are the economic ties between the two countries? • FRANCE 24 English

China-Russia relations: What are the economic ties between the two countries? • FRANCE 24 English

it’s the Russian president’s second visit to China in 7 months and according to Vladimir Putin the relationship is as strong as ever for the past five years despite the aftermath of the pandemic and some actions from the third party countries directed at containing our development the trade between Russia and China is growing at a good Pace president Jinping nodded as Putin celebrated their portfolio of 80 large joint investment projects and announced that the shares of bilateral trade conducted in Rubles and Yuan has topped 90% in February 2022 the pair declared their Alliance as a no limits partnership right before Russia’s invasion of Ukraine the same month that triggered slews of Western sanctions on Moscow but despite the penalties the Russian economy was not brought to its knees instead experiencing 3.6% growth last year helped by closer trade ties with its neighbor according to Chinese data bilateral trade hit a record $240 billion last year up 64% since 2021 with Beijing becoming moscow’s key supplier of clothing cars and raw materials amongst other things China for its part imported 107 million tons of Russian crude oil last year 24% more than it did the year prior whilst Beijing defends trade with its neighbor saying it doesn’t Supply arms for moscow’s war effort it does export over 300 $ 100 million worth of dual use items such as components that could be used to create weapons every month however its exports di significantly in March and April after the US threatened to go after financial institutions that Aid Russia’s War efforts

Leaders Xi Jinping and Vladimir Putin framed their nations’ ties as a stabilising force in a chaotic world as they met Thursday (May 16) in Beijing. It is Putin’s first trip abroad since his March re-election and the second in just over six months to China, an economic lifeline for Russia after the West hit it with unprecedented sanctions over its military offensive in Ukraine.
#China #Russia #Putin

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