Putin, Xi partnership put Russia-China trade increases in 2021 despite COVID

Russian President Vladimir Putin

China, December 9: Russia’s consul general in Harbin, Adimir Oshchepkov said that the bilateral trade between Russia and China will reach a new historical level by the end of the year, despite the COVID-19 pandemic.This shows Xi Jinping and Vladimir Putin have been putting economic ties at the center of their strategic partnership.

“Russian-Chinese inter-regional cooperation has become an integral part of the relations of comprehensive interaction and strategic partnership between our countries. We see that even the pandemic does not create insurmountable obstacles for their progressive development,” the diplomat said .

He said at a video conference on inter regional cooperation between Russia and China in the mining sector and energy industry.

Oshchepkov recalled that at a recent meeting of the Russian and Chinese prime ministers, the task set by the leaders of the two states was reaffirmed – to bring bilateral trade to $200 billion by 2024.

“We are confident that Russian and Chinese regions will make a significant contribution to achieving this goal. By the end of this year, bilateral trade is expected to reach a new historical level, despite the unstable epidemic situation in our countries,” he said.

President Biden and President Vladimir V. Putin of Russia had roughly two hours by video conference on Tuesday in an effort to defuse the increasing military crisis along Ukraine’s borders, where tens of thousands of Russian troops have massed in what US perceive as the prelude to an all-out invasion.

Biden warmed Putin of economic sanctions.Jake Sullivan, the White House national security adviser, said after the meeting that Biden had offered Putin the choice between a diplomatic solution and the severe economic and political consequences that would follow a Russian invasion of Ukraine.

Xi’s Belt and Road Initiative (BRI) is focussing across Eurasian and beyond while Putin’s Eurasian Economic Union (EAEU) on creating a single market among Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

US and its allies should avoid driving China and Russia together and rather offer superior alternatives to to incentivize participation and deliver tangible results.

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