As he seeks greater help from Beijing for his war efforts in Ukraine and his isolated economy, Russian President Vladimir Putin met with his counterpart Xi Jinping in Beijing on Thursday.
After the West imposed unprecedented sanctions against Russia over its defense offensive in Ukraine, Putin’s first trip abroad since his March re-election and his subsequent in just over six months to China.
According to Russian television footage, Putin received a welcome from Chinese officials and an honor guard as he departed from his aircraft at around sunrise for the two-day state visit.
The Russian president’s entry came days after he hailed his country’s forces for advancing on” all sides” on the field in Ukraine, following a major new earth abuse.
Xi, who returned from a three-nation tour of Europe last year, has rebuffed criticism from the West for his country’s ties to Moscow, thanks to cheap Russian energy exports and exposure to vast natural resources, including regular gas supplies via the Power of Siberia network.
It is a partnership the officials described in 2022 as one of” no limitations”.
According to independent Russian political analyst Konstantin Kalachev,” This is Putin’s second journey after his commencement,” and it is intended to demonstrate that Sino-Russian relationships are advanced further.
Not to mention the two leaders ‘ apparent genuine private connection.
Foreign banks fearing US restrictions that may cut them off from the global financial system have started putting the brakes on Russian firms as the economic relationship comes under close investigation in the West.
The leaders of Russia and China will discuss their” comprehensive relationship and strategic teamwork,” according to the Kremlin this week, as well as “define key areas of development of Russian-Chinese cooperation and trade views on international and regional problems.”
Putin, in an interview published in Xinhua back of his visit, even hailed Beijing’s “genuine want” to help overcome the Ukraine crisis.
US Secretary of State Antony Blinken, who met Xi in Beijing next month, warned China’s aid for Russia’s “brutal battle of anger” in Ukraine had helped Russia ramp up production of rockets, drones and tanks– while stopping short of immediate arms exports.
China claims to be neutral in the Ukraine conflict, and Beijing’s foreign ministry announced that the leaders would discuss “bilateral ties, cooperation in various fields, and international and regional issues of common interest.”
Transactions slow
China-Russia trade has grown since the invasion of Ukraine, reaching$ 240 billion in 2023, according to Chinese customs figures.
Chinese exports to Russia dropped in March and April after Washington pledged to go after financial institutions that helped Moscow. They had previously risen in March and April.
In December, President Joe Biden issued an executive order allowing the US Treasury to impose secondary sanctions on foreign banks that deal with Russia’s war machine, thereby preventing them from leaving the dollar-led global financial system.
According to analysts, this, in addition to recent efforts to repair strained ties with the United States, may make Beijing reluctant to publicly push for greater cooperation with Russia, despite what Moscow might want.
Eight people from both cross-border trade partners reported to AFP in recent days that several Chinese banks have halted or slowed transactions with Russian clients.
According to Alexander Gabuev, director of the Carnegie Russia Eurasia Center in Berlin, the banks are “operating on better- be- safe- than- sorry principles, which reduces the volume of transactions”.
Finding out whether the payments are related to the Russian military-industrial complex poses a significant challenge for Chinese businesses and banks, he told AFP.
Putin’s visit to Beijing follows Xi’s own visit to Russia after receiving a second round of leadership last year.
Experts expect this week’s highly symbolic meeting to result in toasts to the” no limits” partnership, as well as some deals signed and pledges to increase trade.
Following the discussions, the Kremlin announced that the two leaders will sign a joint declaration and attend an evening to commemorate 75 years of diplomatic cooperation between the two nations.
Putin will also visit Harbin, China’s second-largest city, for a trade and investment expo and meet Premier Li Qiang, the country’s second-largest official.
