Dealings Poor
According to Chinese customs images, trade between China and Russia has increased since the Ukraine invasion, reaching US$ 240 billion in 2023.
Foreign exports to Russia dropped in March and April after Washington pledged to go after economic institutions that helped Moscow. They had previously risen in March and April.
In December, President Joe Biden issued an executive order allowing the US Treasury to impose extra restrictions on foreign institutions that deal with Russia’s war device, thereby preventing them from leaving the dollar-led global financial system.
According to experts, this, in addition to current efforts to repair strained ties with the United States, may make Beijing unwilling to publicly push for greater cooperation with Russia despite what Moscow properly need.
Eight individuals from both cross-border trade partners reported to AFP in recent days that many Chinese businesses have halted or slowed deals with Russian customers.
According to Alexander Gabuev, chairman of the Carnegie Russia Eurasia Center in Berlin, the lenders are “operating on better- be- secure- than- sad principles, which reduces the volume of transactions”.
Finding out whether the bills are related to the Russian military-industrial difficult poses a significant challenge for Taiwanese businesses and banks, he told AFP.
Putin’s visit to Beijing follows Xi’s personal visit to Russia after receiving a new position as leader last year.
Experts expect this year’s highly symbolic meeting to result in breakfast of the” no limits” partnership, as well as some offers signed and vows to increase business.
Following the discussions, the Kremlin announced that the two leaders will sign a joint declaration and go an evening to commemorate 75 years of political cooperation between the two nations.
Putin will also satisfy Premier Li Qiang, the second-ranking established in China, and make a trade and investment expo stop in Harbin, the capital of the country.