Dealings Quick
China-Russia industry has increased since the invasion of Ukraine, reaching US$ 240 billion in 2023, according to Taiwanese customs images.
Foreign exports to Russia dropped from a high of the year in March and April after Washington vowed to pursue financial organizations that helped Moscow.
In December, President Joe Biden issued an executive order allowing the US Treasury to impose extra restrictions on international institutions that deal with Russia’s war device, thereby preventing them from leaving the dollar-led global financial system.
Analysts speculate that this, in addition to current efforts to repair strained ties with the United States, may make Beijing anxious to publicly support further cooperation with Russia, despite what Moscow might want.
Eight individuals from both cross-border trade partners reported to AFP in recent days that many Chinese banks have stopped 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- protected- than- sad principles, which reduces the volume of transactions”.
” Finding out whether the bills are related to the Russian martial- business complex… is creating a considerable , concern for Chinese companies and banks”, he told AFP.
Putin’s visit to Beijing follows Xi’s personal visit to Russia after receiving a second round of leadership last year.
Experts expect this year’s highly symbolic meeting to result in sandwiches to the” no limits” collaboration, as well as some offers signed and vows to increase business.
Following the discussions, the two frontrunners are scheduled to sign a joint declaration and attend an evening to commemorate 75 years of political relations between the two nations, according to the Kremlin.
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 city.