There has been no shortage of big investment promises each time a Chinese government delegation has visited Moscow in recent years, but concrete deals have often been lacking.
So the $9.1bn stumped up by CEFC China Energy this month for a 14.16 per cent stake in Russian oil producer Rosneft was a welcome surprise for those keen for China to become a big investor in Russia.
As one of the largest Chinese investments in Russia and the second-largest oil and gas acquisition by a Chinese company, it strengthens the bonds between two of the world’s biggest producers and consumers of energy, at a time when relations between Moscow and the west are increasingly sour.
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