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Putin to push growing Moscow-Beijing trade in China's northeast
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Putin to push growing Moscow-Beijing trade in China's northeast
May 16, 2024 8:32 PM

BEIJING, May 17 (Reuters) - After sealing pledges of a

"new era" of strategic partnership with China's Xi Jinping,

Russian President Vladimir Putin on Friday is set to highlight

the growing importance of trade near the Russian border in

China's northeast.

Putin ends his two-day, red-carpet visit to China in Harbin

in Heilongjiang province, which has long-running trade and

cultural ties to Russia, touring a Russian-China Expo and a

forum on interregional cooperation.

Facing political isolation and Western sanctions over

Russia's two-year-old invasion of Ukraine, Putin is increasingly

turning to China to support its war economy.

Amid the pomp of a full state visit, Putin and Xi signed a

joint statement on Thursday that hailed the "new era",

countering the U.S. across a sweep of security and economic

issues and a shared global view.

"The China-Russia relationship today is hard-earned, and the

two sides need to cherish and nurture it," Xi told Putin.

"China is willing to... jointly achieve the development and

rejuvenation of our respective countries, and work together to

uphold fairness and justice in the world."

The joint statement fleshes out the "no limits" partnership

the two declared in February 2022, days before Putin sent tens

of thousands of troops into neighbouring Ukraine, launching the

deadliest land war in Europe since World War Two.

Beijing is helping Moscow's war effort by providing drone

and missile technology, satellite imagery and machine tools,

U.S. officials said last month, although China says it has not

provided weaponry to any party.

Russia's isolation from other powers has fuelled its trade

with China, which surged 26.3% last year to a record $240.1,

Chinese customs data shows. Russia has overtaken Saudi Arabia as

China's top source of crude oil, with shipments jumping more

than 24% despite Western sanctions.

An editorial in China's state-controlled Global Times

newspaper on Friday cited the importance of burgeoning trade

ties to the wider relationship, saying China had been Russia's

largest trading partner for 13 straight years.

"These achievements are not easy and have been achieved by

both countries overcoming various external challenges and

unfavorable factors, highlighting the solid foundation of the

China-Russia relationship," the editorial said.

Putin is flanked by a large trade delegation, which includes

Finance Minister Anton Siluanov and Central Bank Governor Elvira

Nabiullina.

Others include the heads of Russia's largest banks - Sberbank

CEO German Gref and VTB chief Andrei Kostin

- billionaire Oleg Deripaska, top oil producer Rosneft

chief Igor Sechin and liquefied natural gas giant Novatek's

boss, Leonid Mikhelson.

It was not immediately clear if Putin would make any further

stops in Asia.

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