Russia-China summit signals strategic realignment as Moscow deepens dependence on Beijing
Russian President Vladimir Putin arrived in Beijing on May 19, for a two-day summit with Chinese President Xi Jinping, timed to mark the 25th anniversary of the nations’ cooperation treaty.
Bilateral trade exceeded $240 billion in 2025, with trade turnover up nearly 20% in early 2026, as Russia shifts from European markets to Chinese buyers.
Russia and China have phased out Western currencies in bilateral trade, with over 99% of transactions now conducted in rubles and yuan.
Putin seeks Chinese approval for the Power of Siberia 2 pipeline, which would double Russian gas exports to China but remains stalled over pricing disputes.
The visit follows U.S. President Donald Trump’s state visit to Beijing, underscoring intensifying competition for Chinese allegiance.
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