China is seeking to boost its investments in Russia amid Trump’s tariffs and trade wars. The Xi Jinping administration aims to further strengthen the economic ties and expand mutual investments. This comes at a time when the US imposed stricter sanctions on Russia, making it harder for other countries to conduct business and trade deals.
Russia has been receiving steady support from China to keep its economy afloat amid sanctions. Jinping announced that the Chinese investments in the region will cover energy, agriculture, aerospace, digital economy, and green development. All of these aid its economic growth, which the West is aiming to dampen.
The announcement comes after Jinping met with Russian Prime Minister Mikhail Mishustin in Beijing on Tuesday. “China-Russia relations have stayed the course toward higher-level and higher-quality development, advancing steadily despite a turbulent external environment,” Xi told Mishustin, according to state broadcaster CCTV.
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China & Russia Relations Strengthening
Jinping said that both China and Russia signed a “no-limits” partnership after the White House sanctions in 2022. “Safeguarding, consolidating and developing China-Russia relations is a strategic choice for both sides,” Xi said. Both countries have agreed to “strengthen cooperation in all spheres and respond appropriately to external challenges.”
Despite multiple attempts by the West to bring down the Russian economy, China’s support has kept its GDP intact. Business from the Communist country is only rising, making its economy grow despite adversities. The sanctions and tariffs from the White House are only helping these countries band together.
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However, Trump recently tightened the screws on sanctions, making it harder for China to procure crude oil from Russia. The Chinese top State-run refiners have currently suspended oil from Rosneft and Lukoil. Apart from the Communist country, even India has paused procuring oil from the region. India’s State-run refiners and private player Reliance Industries have halted the procurement.