This is Putin’s first trip abroad since his re-election in March.
Beijing:
Russian President Vladimir Putin arrived in China on Thursday to meet with his counterpart Xi Jinping as he seeks greater support from Beijing for his war effort in Ukraine and its isolated economy.
This is Putin’s first trip abroad since his re-election in March and his second in just over six months to China, an economic lifeline for Russia after the West hit it with unprecedented sanctions over its offensive. military in Ukraine.
Russian television broadcast footage of Putin being greeted by Chinese officials and an honor guard as he stepped off the plane for his two-day state visit. State news agency Xinhua also reported his arrival.
Xi, who returned last week from a three-country tour of Europe, rejected Western criticism of Beijing’s ties with Moscow, benefiting from cheap Russian energy imports and access to vast natural resources, including steady shipments of gas through the pipeline. Power of Siberia.
It’s a relationship that leaders described in 2022 as “without limits.”
“This is Putin’s first trip after taking office and therefore aims to show that Sino-Russian relations are rising to another level,” independent Russian political analyst Konstantin Kalachev told AFP.
“Not to mention the visibly sincere personal friendship between the two leaders.”
But as the economic partnership comes under close scrutiny in the West, Chinese banks, fearing US sanctions that could isolate them from the global financial system, have begun tightening the screws on Russian companies.
The Kremlin said this week that the two leaders would discuss their “comprehensive partnership and strategic cooperation” as well as “define key areas of development of Russian-Chinese cooperation and exchange views on international and regional issues.”
Putin, in an interview published on Xinhua before his visit, also praised Beijing’s “genuine desire” to help resolve the crisis in Ukraine.
US Secretary of State Antony Blinken, who met Xi in Beijing last month, warned that China’s support for Russia’s “brutal war of aggression” in Ukraine has helped Russia increase production of rockets, drones and tanks – while also preventing the direct export of weapons.
China claims to be a neutral party to the Ukraine conflict and the Foreign Ministry in Beijing said the two leaders will exchange views on “bilateral ties, cooperation in various fields and international and regional issues of common interest.”
– Slow transactions –
China-Russia trade has grown since the invasion of Ukraine and reached $240 billion in 2023, according to Chinese customs data.
But after Washington promised to pursue financial institutions that facilitate Moscow, Chinese exports to Russia declined during March and April, compared with an increase at the beginning of the year.
An executive order from President Joe Biden in December allows secondary sanctions on foreign banks that deal with Russia’s war machine, allowing the U.S. Treasury to exclude them from the dollar-led global financial system.
This, coupled with recent efforts to rebuild fractured ties with the United States, could make Beijing reluctant to openly promote more cooperation with Russia — despite what Moscow might want, analysts said.
Eight people from both countries involved in cross-border trade told AFP in recent days that several Chinese banks had suspended or slowed transactions with Russian customers.
According to Alexander Gabuev, director of the Carnegie Russia Eurasia Center in Berlin, banks are “operating on the principles of better safe than sorry, which reduces the volume of transactions.”
“Finding out whether the payments are related to the Russian military-industrial complex… is creating a considerable challenge for Chinese companies and banks,” he told AFP.
Putin’s post-election trip to Beijing echoes Xi’s own visit to Russia following his summit as leader last year.
Experts expect this week’s highly symbolic meeting to result in toasts to the “boundless” partnership, as well as some signed agreements and pledges to increase trade.
The two leaders are expected to sign a joint declaration after the talks, the Kremlin said, and participate in a night marking 75 years of diplomatic relations between the two countries.
Putin will also meet with Premier Li Qiang – China’s No. 2 official – and travel to the northeastern city of Harbin for a trade and investment exhibition.
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