Russia’s unequal economic marriage with China- The New Indian Express

By AFP

MOSCOW: Russia Has found itself in an unbalanced relationship with China It has been intensifying its pivot to Beijing After the attack on Ukraine.

Since Western Sanctions were imposed by countries MoscowBilateral trade between the two neighbors has reached an all-time high of $190 billion. The proportion of Russian Foreign trade in the yuan has increased from 0.5 to 16 percent

“It’s absolutely critical for Russia to be close to China, because Russia doesn’t have many trade friends,” Elina RibakovaThe deputy chief economist at Institute This is International Finance, said AFP.

Russian President Vladimir Putin Is now preparing for host Chinese leader Xi Jinping Next week.

The When two of them last met Putin Visited Beijing Three weeks before launching his campaign Ukraine.

Ties They are especially strong in the energy sector, which is heavily targeted by both countries. Western sanctions.

“China and India have replaced the European Union as Russia’s most important export market” Oil, according to a group economists from the Institute This is International Finance.

‘Another tool’
Along With Turkey, China And India Two-thirds of the total Russia’s Crude oil exports during the fourth quarter of last year.

“Chinese companies took over the niches that were freed by Western companies that exited Russia,” Sergey TsyplakovAn expert in the Moscow Higher School This is Economics.

That This was the view of all. Anna Kireeva, a research fellow at MGIMO University In Russia.

“It was necessary to find alternative sources of import as well, especially in machinery, electronics, various parts and components, automobiles and other vehicles,” Kireeva AFP.

She However, it is the biggest. Chinese Companies that are well-integrated in the society Western Markets decided to suspend their activities. Russia Fear of possible sanctions

Time It will be interesting to see if the convenience alliance will become a long-term, sustainable partnership.

“Putin wants an even relationship with China, like with a twin brother, but it’s not the case,” Analyst Timothy Ash AFP.

“Russia has no other option” Instead, turn around ChinaHe said.

Temur UmarovA fellow at the Carnegie Endowment For International PeaceIt was said Russia’s Stability in the economy “depends on China”.

“It gives Beijing another tool, another instrument to influence Russia from domestically,” He stated.

The Kremlin However, he denies any disparity.

“There is neither a leader nor a follower in relations between Russia and China, because both parties trust each other equally,” Russian Presidential aide Yuri Ushakov – he told journalists.

Competitors
Some logistical problems hinder trade development between Beijing And Moscow.

Railway Routes in Russia’s Far East They are saturated Kireeva It was said that their upgrade would take some time.

Infrastructure In Far Eastern These regions include the main oil port of Kozmino In the Sea This is JapanThey can also be congested.

Besides, Russia Oil company had to be sold at lower prices than usual in order to make money. China Or India To maintain sales volumes.

Its Budget is already feeling the effects of the forced discount.

Oil Export revenue fell by 42 percent in the past year FebruaryThe International Energy Agency said.

Having We have fewer partners who leave Russia You are in a much more vulnerable place than you were before. China, which is still a competitor Ash said.

“Beijing has an interest in keeping Russia as an ally that is independent to the West, while it also likes Russia to be weakened so it can exploit it.”

Russia’s Economic dependence China It is still in its infancy. Umarov said.

“But in years or decades this economic leverage could turn into some bigger political leverage,” He added.

<br />MOSCOW: Russia Has found itself in an unbalanced relationship with China It has been intensifying its pivot to Beijing After the attack on Ukraine.

Since Western Sanctions were imposed by countries MoscowBilateral trade between the two neighbors has reached an all-time high of $190 billion. The proportion of Russian Foreign trade in the yuan has increased from 0.5 to 16 percent

“It’s absolutely critical for Russia to be close to China, because Russia doesn’t have many trade friends,” Elina RibakovaThe deputy chief economist at Institute This is International Finance, told AFP.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

Russian President Vladimir Putin Is now preparing for host Chinese Leader Xi Jinping Next week.

The When two of them last met Putin Visited Beijing Three weeks before launching his campaign Ukraine.

Ties They are especially strong in the energy sector, which is heavily targeted by both countries. Western sanctions.

“China and India have replaced the European Union as Russia’s most important export market” Oil, according to a group economists from the Institute This is International Finance.

‘Another tool’
Along With Turkey, China And India Two-thirds of the total Russia’s Crude oil exports during the fourth quarter of last year.

“Chinese companies took over the niches that were freed by Western companies that exited Russia,” Sergey TsyplakovAn expert in the Moscow Higher School This is Economics.

That This was the view of all. Anna Kireeva, a research fellow at MGIMO University In Russia.

“It was necessary to find alternative sources of import as well, especially in machinery, electronics, various parts and components, automobiles and other vehicles,” Kireeva Submitted to AFP

She This is the biggest, however. Chinese Companies that are well-integrated in the society Western Markets decided to suspend their activities. Russia For fear of possible sanctions

Time It will be interesting to see if the convenience alliance will become a long-term, sustainable partnership.

“Putin wants an even relationship with China, like with a twin brother, but it’s not the case,” Analyst Timothy Ash AFP.

“Russia has no other option” Instead, turn to ChinaHe said.

Temur UmarovA fellow at the Carnegie Endowment For International PeaceIt was said Russia’s Stability in the economy “depends on China”.

“It gives Beijing another tool, another instrument to influence Russia from domestically,” He stated.

The Kremlin However, he denies any disparity.

“There is neither a leader nor a follower in relations between Russia and China, because both parties trust each other equally,” Russian Presidential aide Yuri Ushakov – he told journalists.

Competitors
Some logistical problems hinder trade development between Beijing And Moscow.

Railway Routes in Russia’s Far East They are saturated Kireeva It was said that their upgrade would take some time.

Infrastructure In Far Eastern These regions include the main oil port of Kozmino In the Sea This is JapanThey can also be congested.

Besides, Russia Oil company had to be sold at lower prices than usual in order to make money. China Or India To maintain sales volumes.

Its Budget is already feeling the effects of the forced discount.

Oil Export revenue fell by 42 percent in the past year FebruaryThe International Energy Agency said.

Having We have fewer partners who leave Russia In a vulnerable situation compared to China, which is still a competitor Ash said.

“Beijing has an interest in keeping Russia as an ally that is independent to the West, while it also likes Russia to be weakened so it can exploit it.”

Russia’s Economic dependence China It is still in its early stages. Umarov said.

“But in years or decades this economic leverage could turn into some bigger political leverage,” He added.