Xi and Putin
China, Russia Expand Energy and Trade Ties During Beijing Summit
Beijing: Chinese President Xi Jinping and Russian President Vladimir Putin reaffirmed the strength of bilateral relations during high-level talks held in Beijing today amid ongoing geopolitical and economic challenges.
The two leaders announced that they had reached a comprehensive understanding on the main parameters of the “Power of Siberia 2” gas pipeline project, which is designed to transport up to 50 billion cubic metres of natural gas annually from northern Siberia to China through Mongolia.
The project is considered strategically important for Russia as it seeks to diversify export routes for its energy supplies.
According to Xinhua News Agency, President Xi said that China and Russia have continued to deepen political trust and strengthen strategic coordination despite various challenges.
For his part, President Putin stated that relations between Russia and China have reached an unprecedented level, noting strong momentum in bilateral economic cooperation.
He added that the two countries are working jointly to expand transport and logistics corridors, contributing to increased freight and passenger movement between both sides.
Putin also said that most trade settlements between Russia and China are now conducted in local currencies, adding that Moscow is cooperating with Beijing to strengthen partnerships in the critical minerals sector while ensuring stable energy supplies to the Chinese market.
The meeting comes amid ongoing geopolitical developments, including tensions in the Middle East, the conflict in Ukraine and disruptions affecting global trade and energy supply chains.
President Xi stressed that any escalation or expansion of military operations in the Middle East would be unacceptable.
A joint Sino-Russian statement issued following the talks called for a permanent ceasefire in the Gaza Strip and urged parties in the Middle East to engage in negotiations.
The statement affirmed that strategic cooperation between China and Russia contributes to supporting a multipolar international order.
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