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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Russia, China strike commercial pacts despite Western opposition.

President Xi Jinping Meets with Russian President Vladimir Putin Photo Credit: SPUTNIK President Xi Jinping Meets with Russian President Vladimir Putin Photo Credit: SPUTNIK
President Xi Jinping Meets with Russian President Vladimir Putin Photo Credit: SPUTNIK President Xi Jinping Meets with Russian President Vladimir Putin Photo Credit: SPUTNIK

Despite Western opposition as the Ukraine war continued, Russia’s prime leader signed a package of agreements with China on Wednesday in Beijing, characterizing bilateral ties at an unprecedented high.

The highest-ranking Russian official to visit Beijing since Moscow dispatched thousands of troops to Ukraine in February 2022, Prime Minister Mikhail Mishustin met with Premier Li Qiang and President Xi Jinping.

The visit follows Russia and China’s heated response to the Group of Seven’s weekend declarations that singled them out on various topics, including Ukraine.

With the Ukraine crisis in its second year and Russia increasingly feeling the weight of Western sanctions, Moscow is counting on Beijing for support, feeding Chinese demand for oil and gas.

“Today, relations between Russia and China are at an unprecedented high level,” Mishustin told Li in their Beijing meeting.

“They are characterised by mutual respect of each other’s interests, the desire to jointly respond to challenges, which is associated with increased turbulence in the international arena and the pattern of sensational pressure from the collective West,” he said.

“Unity moves mountains,” our Chinese friends remark.

The memorandums of understanding comprised a trade services investment deal, an agricultural export agreement to China, and a sports cooperation agreement.
After promising a “no limits” collaboration, Xi visited Russia in March and met with “dear friend” President Vladimir Putin before the 2022 Russian war on Ukraine, which Moscow calls a “special military operation.”

Beijing has rejected Western attempts to relate its alliance with Moscow to Ukraine, arguing that their relationship does not violate international rules, China has the freedom to engage with whomever it chooses, and their cooperation does not target other countries.

“China is willing to work with Russia to implement the joint cooperation between the two countries, and promoting pragmatic cooperation in various fields can take it to a new level,” Li told Mishustin.

After tripling in March, Chinese shipments to Russia rose 153.1% in April, according to Chinese customs data.

Interfax said Russia and China are considering technological equipment supply to Russia as energy shipments to China are expected to grow 40% this year.

Nikolai Patrushev, secretary of Russia’s Security Council, met with Chen Wenqing, a Politburo member who supervises police, legal affairs, and intelligence, on Monday.

Beijing hasn’t denounced Russia’s invasion. Instead, Xi has advocated a 12-point peace plan since February, which the West and Kyiv have skeptically accepted.

Last week, China’s special representative for Eurasian issues, Li Hui, visited Ukraine and met with President Volodymyr Zelenskiy to urge peace talks and a political solution. According to TASS, Li Hui will visit Russia on Friday.


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