May 21, 2024
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OIL & GAS Politics

Putin to Visit China to Discuss Energy Ties

Russian President Vladimir Putin is scheduled to embark on a state visit to China on May 16-17, where he will engage in discussions with President Xi Jinping, aimed at bolstering energy and trade partnerships between the two nations.

The visit, according to OilPrice.com initiated by President Xi, will encompass a wide range of topics, including China’s Belt and Road Initiative, regional affairs in the Middle East and Asia, and the situation in Ukraine.

Accompanying President Putin will be a cadre of key officials, including Defense Minister Andrei Belousov, Foreign Minister Sergei Lavrov, Security Council Secretary Sergei Shoigu, foreign policy adviser Yuri Ushakov, and representatives from major Russian corporations such as Sberbank, VTB, Rosneft, and Novatek. These delegates will participate in informal discussions and meetings, underscoring the robust strategic alliance between Russia and China.

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A highlight of the visit will be a gala evening commemorating the 75th anniversary of the Soviet Union’s recognition of the People’s Republic of China, underscoring the enduring strength of their bilateral relationship. Against the backdrop of China’s burgeoning challenge to U.S. dominance in critical sectors such as quantum computing, synthetic biology, and military prowess, the significance of this partnership is more pronounced than ever. Discussions between President Putin and Chinese Premier Li Qiang will center on enhancing trade and economic cooperation, with additional visits to Harbin, further solidifying regional ties. Trade between the two nations soared to a record $240 billion in 2023, witnessing a remarkable 26.3% surge from the previous year, with China emerging as Russia’s leading crude oil importer despite Western sanctions.

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