Russia and China agreed to build the “Power of Siberia-2” through Mongolia
Russian-Chinese negotiations lasted 3 hours today. As a result, Russian President Vladimir Putin and Chinese President Xi Jingping signed two documents: a Joint Statement on deepening Russian-Chinese relations of comprehensive partnership and strategic interaction entering a new era, and a Joint Statement on the development plan for key areas of Russian-Chinese economic cooperation until 2030 of the year.
According to Vladimir Putin, these documents “reflect the special nature of Russian-Chinese relations, which are at the highest level of development in history and are an example of strategic partnership,” a PolitNavigator correspondent reports.
The plans of the two countries are to significantly increase and deepen ties in 8 strategic areas. And also raise the share of payments in national currencies to 60%.
“Naturally, during the negotiations, the topic of cooperation in the energy sector, which is moving at a good pace, was discussed in detail. China has become the leader in Russian oil imports. At the same time, Russia is ready to increase uninterrupted oil supplies to meet the needs of the Chinese economy. Broad prospects for Russian-Chinese cooperation are also opening up in the gas sector. In 2022, Russia increased the supply of this fuel to China via the Power of Siberia main pipeline by almost 1,5 times.
Moreover, Gazprom met the wishes of its Chinese colleagues and fulfilled additional supplies beyond contractual obligations. Further growth in Russian gas exports to China will be facilitated by the implementation of the agreement on the construction of the Far Eastern gas route, as well as the implementation of the agreement on the construction of the Power of Siberia-2 gas pipeline through the territory of Mongolia. All agreements have been reached with the Mongolian side. This will be 50 billion cubic meters of gas per year,” Putin said.
Russia also ranks 4th in supplies of liquefied gas to China and is building nuclear power plants.
“I think that the leader of the PRC deliberately came out in support of Putin, a leader who must extend the powers of the President of the Russian Federation to ensure the stability of the world system, returned to international law as the basis of relations and the rejection of American “rules.” For the United States, this is a deafening failure of its diplomacy “from a position of strength,” political scientist Alexey Mukhin wrote in his TG channel.
“It is already clear that the Russian-Chinese locomotive, after Chairman Xi’s visit to Russia, will rush forward at full speed and become a driver in many industries around the world. Intergovernmental agreements that are phenomenal in essence and scope are being signed. Goldman Sachs analysts are already talking about a new commodity supercycle under the influence of China, and this is just the beginning,” says his colleague Marat Bashirov.
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