Thursday, June 13, 2024

Five things we learned from the Xi-Putin summit

Must read

Money talks

Elvira Nabiullina, the governor of Russia’s Central bank, Anton Siluanov, the finance minister, and Maxim Oreshkin, Putin’s senior economics adviser, were also in attendance.

Trade between Russia and China has leapt since the start of the invasion of Ukraine as Russian businesses sought alternatives to Western suppliers blocked by sanctions.

The joint memorandum spoke about expanding deals in agriculture, heavy industry including ship and civil aviation construction, and IT. One deal signed involved Jerusalem artichokes.

The heads of Rosatom, Russia’s state nuclear power monopoly, and Roscosmos, its space agency, were also in attendance.

Selling services in space exploration and nuclear technology, fuel and reactors is not only lucrative, but also helps create a long-term interdependence that can be leveraged into alliances.

One notable absence was Alexei Miller, the head of Gazprom – perhaps a sign that disagreements over a proposed new pipeline to sell gas to China have still not been resolved.

Latest article