RUSSIA VLADIMIR PUTIN CHINA XI JINPING SIGN HIGH LEVEL BILATERAL DEAL

Written by Michael Thervil

https://www.youtube.com/watch?v=AoqOw-RhunQ

RUSSIA VLADIMIR PUTIN CHINA XI JINPING SIGN HIGH LEVEL BILATERAL DEAL | VIDEO COURTESY OF THE KREMLIN

[Russia Vladimir Putin China Xi Jinping] With Russia and China deepening what President Xi Jinping calls their “comprehensive strategic coordination” to each other on the world stage, there seems to be little hope for the Americans as their unilateral power and influence wanes in a multipolar world. Today President Xi Jinping and President Vladimir Putin signed a series of bilateral deals that span across the trade and economic, finance, energy, and infrastructure sectors between both their respective countries. The policy document signed between the two leaders consisted of 47 pages and sealed the deal on roughly 20 topics which would propel the “comprehensive strategic coordination” between Russia and China to the next level for decades to come. The signing this “unprecedented high level” deal comes right after American President Donald Trump Visiting President Xi Jinping.

On the financial front, both Russia and China have made huge strides to not only diversify themselves away from the heavy reliance on western backed currencies. With Russia and China completely breaking away from the Euro and U.S. Dollar, an estimated 99% of financial settlements between Russia and China utilize the Rubble and Yuan. China and Russia have chosen to go this route due to not only the weaponization of the U.S. Dollar and other western backed currencies that tend to follow the Dollar's lead; but to shield themselves from the weaponization of sanctions that tend to damage their ebb and flow of their currencies as a secondary effect.

When it comes to energy  cooperation between Russia and China, Russia has vowed to both continue and expand the amount of oil China receives from Russia and the speed and delivery of Russia oil to China, which would significantly enhance the amount of energy China can use to power homes and business, specifically data centers and manufacturing plants; but to also lower the cost of energy consumption as whole. In return, the exportation of oil and gas, LNG (liquified natural gas), crude oil, and coal to China would boost the Russian economy and further strengthen the Russian rubble.

To accomplish the increased flow for energy commodities to China, Russia will be extending its Siberian pipeline which was fully constructed and commissioned in 1999 and reached full production capacity in 2024. Also, within the scope of the recently signed bilateral agreement was the plan to construct a Siberia 2 pipeline that would extend from Yamal LNG plant located in Kamalo-Nenets Autonomous Okrug, which is in the northwest part of Siberia (Arctic), to Mongolia. Other expansion projects on the Russian side regarding energy exportation to China would include Arctic LNG 2 and Sakhalin-2.

With stability and reliability being at the forefront of discussion for China in terms of oil and gas supply, Russia also agreed to construct and enhance more logistical hubs throughout both countries to expedite the speed and efficiency needed to meet the demands of China. China is the largest consumer of Russian oil in the world. These logistical hubs would include a cross-border transport hub via bridges and railway and augment China's BRI (Belt and Road Initiative). Other industrial sectors between the two neighboring countries would include investments, manufacturing, and technology in the form of telecommunications, industrial equipment, and aviation.

Both countries have also agreed to bilaterally allow their citizens to travel between each other free through the creation of new aerial routes which would provide a socio-economic boost to the travel and tourism sectors of both nations. The secondary effects will have a major positive impact on the education sectors of both countries as well. With education, tourism and hospitality comes trade. Agricultural products, cars, and various other consumer-based products will be traded heavily between both countries. While Russia and China continues on developing and strategically strengthening their partnership “without limits”, it seems that every country on the world stage with the exception of America and the united kingdom will ultimately benefit from the joint Russia-China cooperation in the long term as the leaders of both countries play a major role in the new multi-polar world.