This mixture of two photographs created on Might 13, 2024 exhibits China’s President Xi Jinping (L) in the course of the closing session of the Chinese language Individuals’s Political Consultative Convention on the Nice Corridor of the Individuals in Beijing on March 10, 2024, and a pool picture distributed by Russian state company Sputnik exhibiting Russia’s President Vladimir Putin (R) assembly with commanders of items concerned within the nation’s navy motion in Ukraine, in Moscow on Might 7, 2024. Russian President Vladimir Putin will go to China this week on the invitation of chief Xi Jinping, Beijing’s international ministry mentioned Might 14, 2024. Agence France-Presse
BEIJING — Russian President Vladimir Putin will go to China this week on the invitation of chief Xi Jinping, Beijing’s international ministry mentioned Tuesday.
Putin can be in Beijing from Thursday to Friday, international ministry spokeswoman Hua Chunying mentioned, within the Russian chief’s second go to to China in simply over six months.
It will likely be the Russian chief’s first journey overseas since his March re-election and his second in simply over six months to China.
READ: US sanctions take a look at China’s ‘no limits’ friendship with Russia
Analysts say Russia is more and more depending on China as a vital financial lifeline for the reason that West hit it with unprecedented sanctions over its navy offensive.
Beijing has rebuffed criticism over its ties with Moscow, hailing its “no limits” partnership because it enjoys low-cost Russian vitality imports and entry to huge pure assets, together with regular gasoline shipments through the Energy of Siberia pipeline.
However as that financial partnership comes underneath shut scrutiny within the West, Chinese language banks fearing US sanctions that may reduce them off from the worldwide monetary system have begun turning the screws on Russian companies.
READ: China congratulates Putin on election victory
“The Russians need China to do extra to assist it, which China is reluctant to do as a result of it doesn’t wish to jeopardize its relationship with the West,” Alexander Gabuev, director of the Carnegie Russia Eurasia Heart, instructed AFP.
Commerce between China and Russia has boomed for the reason that Ukraine invasion — which Beijing has by no means condemned — and hit $240 billion in 2023, in keeping with Chinese language customs figures.
However as Washington vowed to go after monetary establishments that facilitate Moscow, Chinese language exports to Russia dipped throughout March and April, down from a surge early within the yr.
That comes as Beijing finds itself going through rising calls to decouple from Russia — or face penalties its struggling financial system is ill-equipped to deal with.
“Chinese language banks are involved about reputational prices as they search to forestall main sanctions,” Elizabeth Wishnick, a Senior Analysis Scientist at CNA, instructed AFP.
“Definitely main Chinese language banks would wish to keep away from that situation given present financial difficulties domestically.”
Putin’s post-election journey to Beijing echoes Xi’s personal to Russia after his anointing as chief final yr.
Specialists count on this week’s extremely symbolic assembly to lead to toasts to the “no limits” partnership, in addition to some offers signed and pledges to extend commerce.
The Russian chief is aware of full effectively that Beijing stays decided to again Moscow — seen by Chinese language policymakers as a vital bulwark towards the West and a essential ally in its battle towards a US-led world order, analysts mentioned.
“The Russians aren’t overly emotional and naive,” Carnegie’s Gabuev mentioned. “They perceive how necessary ties with the West are for China.
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“They know for certain that China is not going to drop them, throw them underneath the bus.”
