Why trade with China is vital to Russia

Beijing, Riga Russian President Vladimir Putin admitted to his Chinese counterpart Xi Jinping during his visit to Moscow that he is a bit “envious” of China’s tremendous development progress. This also resonates: In light of Western sanctions, Moscow is increasingly dependent on its largest trading partner.

Therefore, the economic cooperation between the two countries played an important role in the bilateral talks. Xi hoped the two countries could fully tap the potential of large-scale infrastructure projects to “promote growth, jointly ensure energy security, and expand bilateral economic and trade exchanges,” the Chinese side said in an official statement.

Putin reassured Xi of reliable supplies of oil and gas. Russia is able to cover the growing energy needs of the Chinese economy. Chinese companies will also be supported in “replacing production facilities for Western companies that have left Russia.”