Russian dictator vladimir putin will travel to Beijing on Tuesday for talks with President Xi Jinping as part of his first foreign visit this year. The russian leader plans to discuss the Power of Siberia-2 gas pipeline project to China.
This was reported by Bloomberg, citing sources.
Russia hopes that the turmoil in energy markets caused by the conflict in the Middle East will force China to show greater flexibility in negotiations on a gas price contract for the planned Power of Siberia-2 pipeline project, according to people close to the government.
One russian official said Chinese officials have expressed interest in accelerating the talks, although no significant progress has been made so far.
Kremlin foreign policy adviser Yuri Ushakov also said the pipeline project was on the agenda and "we are determined to discuss it seriously. In his opinion, the topic will be discussed in detail between the leaders."
Putin and Xi are scheduled to hold talks on Wednesday and have tea together in the evening to continue the discussion.
The russian aggressor delegation includes five vice prime ministers, eight ministers and the head of the Central Bank, as well as heads of state-owned corporations and large enterprises. According to a source close to the russian state-owned energy giant, Gazprom has made a very favorable offer on gas prices for the Power of Siberia-2 gas pipeline, which will run from Siberia to China via Mongolia, although Chinese partners have shown no interest in pushing the project forward.
The goal remains to agree on a gas price by September, the source said.
As pressure on the economy mounts, russia relies heavily on trade with China to cushion the impact of Western sanctions imposed in response to a full-scale invasion of Ukraine. And U.S. President Donald Trump's war with Iran could give Moscow an opportunity to rebalance relations as Beijing seeks greater energy security amid disruptions caused by the closure of the Strait of Hormuz.
Officially timed to coincide with the 25th anniversary of a treaty of friendship and cooperation between russia and China, putin's visit follows Xi's summit with Trump last week and gives the russian leader a chance to learn the details of those discussions. It is the second time this year that Xi has held back-to-back diplomatic talks with Trump and putin. He spoke separately by phone with the U.S. President and putin in early February, hours apart.
According to European officials, who asked not to be named to discuss private assessments, russia now imports more than 90 percent of its sanctioned technologies through China, which is 10% more than last year.
Recall that Chinese Foreign Minister Wang Yi, following the meeting between Chinese President Xi Jinping and US President Donald Trump, stated the interest of the Chinese and American sides in continuing to help end the russian war against Ukraine.
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