Putin Praises Deepening Ties with China Amid Global Tensions

Russian President Vladimir Putin expressed his close ties with Chinese President Xi Jinping, referring to him as an ‘old friend.’ Putin’s comments came two weeks after his recent trip to Beijing with other officials and business leaders. This was his 25th visit to China. He has met Xi over 40 times since Xi assumed office in 2013. Their relationship has often been referred to as a ‘bromance’ due to their public displays of camaraderie.

During a Q&A session at the 29th St. Petersburg International Economic Forum, Putin emphasized the trust between him and Xi. ‘We have developed a trusting relationship,’ Putin said. He was responding to a question from Fu Hua of China’s Xinhua News Agency on the cooperation between China and Russia.

Russia’s Economic Dependence on China

The two nations have aligned their diplomatic efforts, advocating for a multipolar world in contrast to U.S. influence. China has played a crucial role in stabilizing the Russian economy since the onset of the Ukraine conflict. In the previous year, trade between Russia and China reached approximately $228 billion, exceeding prewar figures by over 50%. China’s purchase of discounted Russian gas has been vital in countering Western sanctions.

Additionally, Chinese electronics and components continue to support Russia’s military industrial capabilities, according to U.S. and European allies.

A Long-Standing Partnership

Putin clarified that the strength of Sino-Russian ties is not new, citing the 2001 Treaty of Good-Neighborliness and Friendly Cooperation he signed with Jiang Zemin. During Putin’s latest visit, both leaders showed commitment to enhancing bilateral relations. They issued a joint statement and numerous agreements.

Notably absent was the Power of Siberia 2 pipeline agreement, as negotiations with China over pricing continue. This pipeline, intended to double Russia’s gas exports to China, remains on hold. Analysts suggest Beijing seeks to diversify its energy sources to prevent future disruptions.

China Becomes a Major Energy Customer

China emerged as the leading importer of Russian oil and gas, compensating for the absence of European buyers following geopolitical upheavals.

Putin’s visit followed President Donald Trump’s visit to China. Trump praised Xi as a ‘great leader’ during efforts to reduce trade tensions. Trump extended an invitation to Xi to visit Washington in September.

Newsweek contacted China’s Foreign Ministry for comment on these developments.