Putin Declares China as Russia’s "Leading Trading Partner"
(MENAFN) Russian President Vladimir Putin on Saturday declared that relations between Russia and China have reached an “unprecedentedly high level,” emphasizing the robust growth in both economic and strategic cooperation.
In an interview with a Chinese news agency, Putin highlighted a surge in bilateral trade, which has expanded by nearly $100 billion since 2021. “China is undoubtedly Russia’s leading trading partner, while Russia has become China’s fifth-largest foreign partner over the past year,” he said.
Putin pointed out a significant shift in payment practices, noting that while trade figures are still tallied in dollars, settlements now occur “almost entirely in national currencies,” with the dollar and euro’s shares dropping “to statistical error levels.”
Russia remains a dominant supplier of energy to China, with Putin confirming that cumulative gas deliveries via the Power of Siberia pipeline have exceeded 100 billion cubic meters since its 2019 launch.
Looking ahead, Putin said the completion of the Far Eastern gas pipeline by 2027 will further solidify Russia’s position as a vital market for Chinese car exports and energy needs, deepening bilateral ties.
“During my upcoming visit, we will certainly discuss further prospects for mutually beneficial cooperation,” Putin stated.
Beyond economics, Putin underscored the strategic importance of the partnership, describing Russia-China coordination as “a key factor in global politics.” He cited their collaboration at the United Nations and within the Group of Friends in Defense of the UN Charter as vital efforts to empower the Global South.
Both countries are pushing for reforms to make the UN Security Council more democratic and representative of today’s world by increasing seats for Asia, Africa, and Latin America.
“We actively interact with China in BRICS to enhance its influence as one of the cornerstones of the international architecture,” Putin added.
He also criticized Western sanctions, branding them discriminatory, and called for IMF and World Bank reforms. Together with Beijing, Putin envisions “a new financial system” that is fair, transparent, and resistant to “neocolonial purposes.”
Putin’s four-day visit to China begins Sunday at the invitation of President Xi Jinping. He will attend the Shanghai Cooperation Organization summit in Tianjin and then head to Beijing for events marking the 80th anniversary of victory over militarist Japan and the end of World War II, where he will be a guest of honor.
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