Vladimir Putin and Xi Jinping will place their growing economic ties at the heart of talks in the Kremlin on Tuesday, highlighting Moscow’s dependence on Beijing after its economy was largely severed from the west. The Russian president hailed China’s economic model as “much more effective” than that of other countries, a recognition of the lifeline Beijing has extended since Moscow’s invasion of Ukraine last year — with bilateral trade reaching a record $190bn in 2022.
“The sanctions have exacerbated the already asymmetrical relationship between Russia and China,” said Maria Shagina, a senior research fellow at the International Institute for Strategic Studies. “It’s hard to hide the fact that Russia is now a junior partner.”
Moscow sees its economic reliance on China as crucial to its prospects of winning the war, a person close to the Kremlin said. While China’s help in weathering the effects of US sanctions is irreplaceable, Russia’s wealth of natural resources will secure Beijing’s continued support, the person added.