Putin says Russia’s ties to China have deepened, citing trade and energy links

Russian President Vladimir Putin told reporters at the St. Petersburg International Economic Forum that his relationship with Chinese President Xi Jinping is that of “old friends.” He rejected the idea that the war in Ukraine has forced Moscow to turn toward Beijing, noting instead that the partnership predates the conflict and is rooted in a “trustful” bond.

Putin highlighted the surge in bilateral trade to roughly $228 billion last year – more than 50 percent above pre‑war levels – and stressed China’s role in cushioning the Russian economy through cheap gas imports and supplies of electronics and dual‑use components that support its defence industry. He mentioned the stalled Power‑of‑Siberia 2 pipeline project, saying price negotiations are delaying its completion, while China is also looking at alternative LNG sources.

The president recalled the 2001 treaty on good neighbourly relations as the foundation of current cooperation and underscored that the partnership is presented as a counterweight to what Moscow and Beijing describe as a US‑led chaotic hegemony.