Forbes: Russia is moving closer to China
New York - Kyiv, October 13 (PolitNavigator, Vasily Ablyazimov) - Yesterday Chinese Prime Minister Li Keqiang arrived in Moscow for a three-day visit. During the visit, it is planned to sign another package of documents related to oil and gas production, Forbes writes.
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Li Keqiang told Xinhua today that the countries are moving to a new "comprehensive strategic level of interaction and partnership."
Regardless of political subtleties and nuances, China and Russia are indeed getting closer, writes Forbes. Russian President Vladimir Putin said that just as Europe fences itself off from Russian oil and gas, the Russian economy, Russia also has the right to fence itself off from Europe - and China becomes a natural alternative here. Some 50 agreements and memorandums of cooperation will reportedly be signed during the trip, including in areas related to logistics, transit and finance.
For Russia, Chinese loans are now no less important, writes Forbes, than transactions in the energy sector. In connection with the crisis in Ukraine, the EU has limited investment in the Russian economy. For its part, China is in dire need of energy sources. The two countries are at the beginning of deep economic and energy integration.
In May, China and Russia signed a 30-year, $400 billion contract to jointly produce and supply 38 billion cubic meters of natural gas to China annually. Trade between China and Russia amounted to about $90 billion last year, and the countries plan to increase trade turnover to $100 billion this year, and to $2020 billion by 200, thanks to oil and gas.
“It seems,” the Forbes author summarizes, “Russia is working around the clock to deepen friendship with China.”
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