Navigating Sanctions, Deepening Economic Ties, and Addressing the War in Ukraine

On the eve of his visit to China, Russian President Vladimir Putin criticized Western sanctions, highlighting their impact on his country's economy, which is facing recession due to trade restrictions and the financial strain of the war in Ukraine.

Putin, in a written interview with China's Xinhua news agency, stated that Russia and China share a common stance against "discriminatory" sanctions in global trade. His visit to China, Russia's primary trading partner, is scheduled for four days, starting Sunday. The Kremlin has described this visit as "unprecedented."

The Russian leader's itinerary includes attending the Shanghai Cooperation Organisation (SCO) summit in Tianjin, followed by talks with Chinese President Xi Jinping in Beijing. He will also participate in a military parade in the Chinese capital, commemorating the end of World War Two.

Russia has faced numerous Western sanctions following its 2022 invasion of Ukraine. Putin emphasized the progress in economic cooperation, trade, and industrial collaboration between Russia and China. He anticipates discussing further opportunities for mutually beneficial cooperation during his visit.

China has become a crucial partner for Russia, particularly after Western nations imposed sanctions. China has increased its purchases of Russian oil and exports of goods, leading to record-breaking bilateral trade. Transactions between the two countries are primarily conducted in rubles and yuan.

Russia is a major exporter of oil and gas to China, and both countries are working to reduce trade barriers. Putin also noted the increasing exports of agricultural products, such as pork and beef, to China.

Putin and Xi Jinping established a "no limits" strategic partnership in 2022. The two leaders have met frequently over the past decade.