This is Putin’s first trip abroad since his March re-election.
Russian President Vladimir Putin visited China seeking increased support amid Western sanctions due to the Ukraine conflict. This trip marks his first abroad since his March re-election. Putin aims to bolster China’s backing for Russia’s war efforts and its struggling economy. Both leaders, Putin and Xi Jinping, emphasize their strong personal rapport and the deepening Sino-Russian ties. However, recent US warnings and sanctions targeting financial institutions dealing with Russia have caused Chinese banks to tread cautiously. This caution reflects Beijing’s efforts to balance its relationship with Moscow while avoiding repercussions from the West. Despite challenges, trade between China and Russia has surged, reaching $240 billion in 2023, but recent fluctuations suggest growing economic pressures. Putin’s visit is expected to solidify diplomatic ties, potentially resulting in agreements and declarations aimed at furthering bilateral cooperation.
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