MOSCOW: Russian President Vladimir Putin said on Wednesday that Russia’s economic and trade Partnership with China is “yielding results” as he welcomed Chinese Premier Li Qiang to the Kremlin.
Putin and Chinese Premier Li Qiang met at the Kremlin, underscoring the growing economic and trade cooperation between Russia and China. The meeting highlighted the strength of their bilateral relationship, which has deepened significantly as Russia faces Western sanctions due to its ongoing conflict in Ukraine.
President Putin praised the success of the economic and trade links between the two nations, noting that their collaborative efforts are yielding tangible results. “Our trade relations are developing successfully,” Putin said.
Putin emphasized that the concerted efforts of both governments in enhancing trade and economic ties are producing positive outcomes. “Our states have worked out large-scale joint plans and projects in economic and humanitarian spheres, and we look forward to many years ahead of fruitful cooperation,” he added.
Premier Li Qiang described the China-Russia relationship as being at an “unprecedentedly high level.” According to the Kremlin’s translation, Li highlighted that both Putin and Chinese leader Xi Jinping have provided a “strong impulse for further deepening of bilateral relations.”
Li Qiang also met with Russian Prime Minister Mikhail Mishustin to discuss matters of bilateral interest. Mishustin described the Russia-China partnership as crucial amid the shifting global order. “Our partnership and strategic cooperation are especially important as new contours of the global order are being formed,” Mishustin said.
He noted that the collaboration between the two countries acts as a stabilizing factor, fostering economic growth and enhancing the quality of life for their citizens.
Trade between Russia and China has surged to record levels, with both nations increasingly using their own currencies for mutual transactions. “Today, the share of the ruble and the yuan in mutual settlements is already over 95 percent,” Mishustin said. This shift away from Western currencies is part of Russia’s broader strategy to mitigate the impact of Western sanctions.
The strengthening of ties comes as Beijing maintains a neutral stance on the Russia-Ukraine conflict, despite its close political and economic alliance with Moscow. China has refrained from providing lethal aid to either side in the conflict and has instead benefited from discounted Russian energy imports and access to natural resources, including gas transported through the Power of Siberia pipeline.
