Russia-China trade hits new record despite sanctions, blackmail: Putin

By Al Mayadeen English
Source: Agencies
30 Dec 2022 14:20
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Russian President Vladimir Putin reiterates that Moscow is keen to ramp up its military cooperation with China.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin

Despite Western sanctions and blackmail, economic turnover between Russia and China has reached historic highs, Russian President Vladimir Putin said during talks with China's leader Xi Jinping on Friday, adding that the objective of increasing trade volumes to $200 billion would be met ahead of time.

In a video call, as broadcast by the Rossiya 24 TV channel, the Russian President said, "Despite the unfavorable external environment, illegitimate restrictions, and certain Western countries' direct blackmail, Russia and China managed to ensure record high rates of mutual trade turnover growth."

He added that trade turnover "increased by around 25%" and that such dynamics would allow the two countries to "achieve the goal level of $200 billion by 2024."

"From January to November, trade turnover increased by 36% to $6 billion," Putin stated, citing "a significant increase in agricultural commerce."

Furthermore, Putin assured that Moscow is keen to ramp up its military cooperation with China, hailing the two countries efforts to counter "unprecedented Western pressure and provocations."

"We aim to strengthen cooperation between the armed forces of Russia and China," Putin told Xi by video link at the start of the talks, calling the Chinese leader a "dear friend".

Elsewhere in his remarks, the Russian leader pinned his hope on strengthening political and military ties with China.

"In the context of growing geopolitical tensions, the importance is growing of the Russian-Chinese strategic partnership as a stabilizing factor," Putin said.

"We share the same views on the causes, course, and logic of the ongoing transformation of the global geopolitical landscape," he added.

To put it simply, Russia's shift toward China increased international trade, providing a rising economic counterbalance to the dollar, not to mention curtailing Western attempts to exert economic pressure on Moscow.

"Russia has become one of the leaders when it comes to oil exports to China," Putin assured.

It is also worth noting that the Russian President stated that Xi will be in Moscow for a state visit next spring.

As tensions with the US increase, China's relations with Russia maintain mutual benefit, respect, and trust, most notably after the war in Ukraine.