Putin Says Russia and China Have an Unprecedented Relationship, Ready to Supply Energy

[The Financial News] Vladimir Putin, who is visiting China for the 25th time, said Russia's relations with China are good at an "unprecedented level." He also said Russia is ready to supply oil and natural gas to China without interruption.
According to TASS Russian News Agency, Putin held a summit with Chinese President Xi Jinping at the Great Hall of the People in Beijing on May 20. The talks lasted about three hours and covered bilateral ties. At a joint press conference afterward, Putin said, "Russia and China are actively cooperating in the energy sector." He added, "Russia is one of the largest exporters of oil, natural gas and coal to China, and we are ready to supply all of these fuels stably and without interruption to the fast-growing Chinese market."
China is the world's largest oil importer and has been buying massive amounts of energy from Russia, which has faced Western economic sanctions since its 2022 invasion of Ukraine. On the same day, Kremlin spokesman Dmitry Peskov said, "The Russian president said at today's meeting that a broad agreement had been reached on the Power of Siberia 2 gas pipeline project, including the route and construction method." Peskov said nothing had been finalized on the schedule, but stressed that "the details still need to be worked out, but a broad agreement has already been reached." Power of Siberia 2 is a pipeline project that would send natural gas from Russia to China via Mongolia.
Putin also emphasized at the joint press conference on May 20 that the two countries are settling payments in their own currencies rather than in U.S. dollars. He said, "Virtually all Russia-China import and export transactions are being carried out in Russian rubles and Chinese yuan." Putin added, "We have built a stable mutual trade system protected from external influence and negative trends in the global market," and said, "Russia and China are important trade partners for each other."
Putin said the same day that "bilateral ties have reached an unprecedentedly high level" and that "the relationship is self-reliant. It does not depend on the current situation and is becoming a model for the world." He went on to say that the two countries are united "in the name of peace and prosperity" and claimed that "Russia and China are acting together to defend international law." He added that the two sides are closely coordinating within international organizations such as the Shanghai Cooperation Organization (SCO) and BRICS while upholding the UN Charter. "We will continue to align our positions in a multilateral system and ultimately build a Greater Eurasian Partnership," he said.
Xi, who attended the press conference, said he and Putin had held "in-depth, friendly and productive talks" and had engaged in strategic communication on major international and regional issues. He noted that this was Putin's 25th visit to China and said it "shows the high level and special nature of bilateral ties."
Xi said bilateral relations have now reached "the highest level in history" and claimed that over the past 30 years, the two countries have adhered to the principles of "non-alignment, non-confrontation and not targeting third parties," making important contributions to defending international fairness and justice. He added that the two countries have become a key pillar of global stability amid an unprecedented wave of change.
Meanwhile, Xi said on the day that "the world today is by no means peaceful." He warned that unilateralism and hegemonism are threatening to drag the international order back into a "jungle where the strong prey on the weak." He stressed that China and Russia, as major countries, must fulfill their responsibilities, defend the authority of the UN and international fairness, and oppose all forms of unilateral bullying and attempts to turn back the clock on history.





pjw@fnnews.com Park Jong-won Reporter