popular articles

Putin in China: Energy and strategic challenges

Russian President Vladimir Putin will visit China on May 16 and 17 to strengthen energy cooperation with Beijing, in response to Western sanctions. The visit aims to consolidate the Sino-Russian alliance and navigate the strategic challenges posed by US sanctions on Chinese financial institutions.
Sommer Russi Chine Mai 2024

Please share:

Russian President Vladimir Putin will pay a visit to China this week, aiming to secure stronger support from Beijing for his war in Ukraine. The visit, scheduled for May 16 and 17, represents Putin’s first foreign trip since his re-election in March, and comes at a time when Sino-Russian relations are under increasing pressure from Western sanctions.

Enhanced Energy Cooperation

Since the start of Russia’s invasion of Ukraine in February 2022, Moscow and Beijing have intensified diplomatic and trade relations. In response to Western criticism, China has stepped up its imports of Russian gas and oil at reduced prices, becoming a crucial economic partner for Russia. In 2023, Sino-Russian trade reached $240 billion, according to China Customs. Russia’s growing dependence on China underlines the strategic importance of energy cooperation between the two countries.

Impact of Chinese Sanctions and Reactions

However, Chinese exports to Russia declined in March and April 2024, due to the threat of US sanctions against financial institutions supporting the Russian war effort. These potentially devastating sanctions for an already fragile Chinese economy have prompted Chinese banks to adopt a more cautious approach to their dealings with Russia, suspending or scaling back some of their operations.

Strategic and Diplomatic Challenges

China, while seeking to maintain stable relations with the West, must navigate carefully in its support for Russia. “Chinese banks are worried about the impact on their reputation and are looking to avoid big penalties,” explains Elizabeth Wishnick of the CNA think tank. What’s more, Ali Wyne of the International Crisis Group points out that Beijing might consider supporting Moscow in less visible ways, such as via small Chinese banks or unofficial financing channels.

Outlook

The meeting between Putin and Xi Jinping could lead to the signing of new agreements and increased trade, while reaffirming their shared opposition to American hegemony. However, China remains conscious of the importance of its relations with the West, and is seeking to avoid severe sanctions. The current situation highlights the complex strategic challenges facing Beijing and Moscow in the current geopolitical context.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The Turkish mission to explore hydrocarbons in Somalia strengthens Turkey's energy and geopolitical strategy while offering significant economic prospects for Somalia.
The Ukrainian army claims to have struck the main oil terminal in Crimea, causing a fire. This attack is part of a series of actions aimed at disrupting the logistics of Russian forces controlling part of Ukraine.
The Ukrainian army claims to have struck the main oil terminal in Crimea, causing a fire. This attack is part of a series of actions aimed at disrupting the logistics of Russian forces controlling part of Ukraine.
The authorities in eastern Libya announced the lifting of the force majeure on oil sites. This decision marks the end of a blockade imposed in August, linked to a crisis surrounding the Central Bank, allowing for the resumption of energy exports.
The authorities in eastern Libya announced the lifting of the force majeure on oil sites. This decision marks the end of a blockade imposed in August, linked to a crisis surrounding the Central Bank, allowing for the resumption of energy exports.
Gabon has filed a request before the International Court of Justice (ICJ) to assert its sovereignty over three oil-rich islets, contested by Equatorial Guinea, marking a new stage in their long-standing territorial dispute.
Gabon has filed a request before the International Court of Justice (ICJ) to assert its sovereignty over three oil-rich islets, contested by Equatorial Guinea, marking a new stage in their long-standing territorial dispute.
The ports of Hodeidah and Ras Isa in Yemen have been hit by Israeli airstrikes, disrupting regional maritime transport and exacerbating geopolitical tensions in a key area for global oil supply.
Gabon and Equatorial Guinea have been at odds over three islets since the 1970s. The International Court of Justice (ICJ) has been called upon to determine the applicable legal documents in this high-stakes dispute with major economic and strategic implications.
Gabon and Equatorial Guinea have been at odds over three islets since the 1970s. The International Court of Justice (ICJ) has been called upon to determine the applicable legal documents in this high-stakes dispute with major economic and strategic implications.
The presidency of COP29 in Baku, led by Azerbaijan, is focused on transforming the commitments made during COP28 into actionable goals, with a strong emphasis on climate finance, energy transition, and multilateral cooperation to strengthen global decarbonization.
The presidency of COP29 in Baku, led by Azerbaijan, is focused on transforming the commitments made during COP28 into actionable goals, with a strong emphasis on climate finance, energy transition, and multilateral cooperation to strengthen global decarbonization.
Moscow is ramping up pressure on the investigations into the Nord Stream pipeline explosions, accusing Germany, Denmark, and Sweden of not meeting their obligations under international conventions.
Moscow is ramping up pressure on the investigations into the Nord Stream pipeline explosions, accusing Germany, Denmark, and Sweden of not meeting their obligations under international conventions.
JETP, a G7-backed initiative, promises to finance the energy transition of developing nations. However, financing delays and structural obstacles are holding back the achievement of climate goals in countries such as South Africa, Indonesia, Vietnam and Senegal.
Multilateral banks and the UN are stepping up their efforts to mobilize long-term financing, with the aim of closing the Sustainable Development Goals (SDGs) gap by 2030.
Multilateral banks and the UN are stepping up their efforts to mobilize long-term financing, with the aim of closing the Sustainable Development Goals (SDGs) gap by 2030.
The G20 approves an IEA guide to support energy innovation in emerging economies, by proposing policies adapted to energy transitions.
The G20 approves an IEA guide to support energy innovation in emerging economies, by proposing policies adapted to energy transitions.
BlackRock's acquisition of a 20% stake in Naturgy, a key energy company in Spain, raises crucial issues about the energy transition and the concentration of foreign ownership in strategic sectors. This dynamic deserves particular attention.
BlackRock's acquisition of a 20% stake in Naturgy, a key energy company in Spain, raises crucial issues about the energy transition and the concentration of foreign ownership in strategic sectors. This dynamic deserves particular attention.
The interdependence between the Western and Russian nuclear industries raises major concerns, especially in the context of economic sanctions. This report highlights the challenges and costs involved in reducing this dependence, prompting further reflection.
Ukraine and Moldova are facing a critical winter due to the destruction of their energy infrastructures. The International Energy Agency is calling for urgent action to guarantee their energy security in the face of unprecedented challenges.
Ukraine and Moldova are facing a critical winter due to the destruction of their energy infrastructures. The International Energy Agency is calling for urgent action to guarantee their energy security in the face of unprecedented challenges.
Iran, a key player in the global energy sector, is facing growing tensions over its nuclear program. Teheran's declarations on the transparency of its activities raise crucial questions about the future of international negotiations and regional security.
Iran, a key player in the global energy sector, is facing growing tensions over its nuclear program. Teheran's declarations on the transparency of its activities raise crucial questions about the future of international negotiations and regional security.
The UK launches the Global Clean Power Alliance to help countries move away from fossil fuels and towards renewable energy. The initiative aims to strengthen climate diplomacy and support emerging economies in their energy transition.
The UK launches the Global Clean Power Alliance to help countries move away from fossil fuels and towards renewable energy. The initiative aims to strengthen climate diplomacy and support emerging economies in their energy transition.
Pertamina, the Indonesian oil company, is exploring supplies of Russian crude, raising hopes among refiners in Thailand and Japan. This dynamic could disrupt light crude prices in Southeast Asia, prompting increased vigilance.
Turkey strengthens its position in the energy market by signing a 10-year agreement with TotalEnergies for the import of liquefied natural gas. This initiative aims to diversify supplies and become a regional hub for Europe.
Turkey strengthens its position in the energy market by signing a 10-year agreement with TotalEnergies for the import of liquefied natural gas. This initiative aims to diversify supplies and become a regional hub for Europe.
The case between Rosneft and Shell over the sale of the latter's stake in the PCK Schwedt refinery illustrates the growing tensions in the European energy sector, exacerbated by the current geopolitical context and sanctions against Russia.
The case between Rosneft and Shell over the sale of the latter's stake in the PCK Schwedt refinery illustrates the growing tensions in the European energy sector, exacerbated by the current geopolitical context and sanctions against Russia.
The Great Sea Interconnector (GSI) is an ambitious project to link the power grids of Cyprus, Greece and the Middle East. This strategic cable could transform the region's energy security, while raising major geopolitical challenges.
The Great Sea Interconnector (GSI) is an ambitious project to link the power grids of Cyprus, Greece and the Middle East. This strategic cable could transform the region's energy security, while raising major geopolitical challenges.
Central Asia, in search of new partnerships, is turning to Germany to develop trade and energy corridors. This dynamic, in the face of current geopolitical challenges, could transform the region into a key player on the international stage.
The debate over the taxation of Chinese electric cars is intensifying, with growing tensions between the European Union and China. Key players are calling for a negotiated solution to avoid a trade war harmful to both economies.
The debate over the taxation of Chinese electric cars is intensifying, with growing tensions between the European Union and China. Key players are calling for a negotiated solution to avoid a trade war harmful to both economies.
Recent U.S. tariff increases on Chinese imports, affecting a variety of sectors, are raising concerns about their economic impact. This article explores the implications of these decisions on trade relations and the global economy.
Recent U.S. tariff increases on Chinese imports, affecting a variety of sectors, are raising concerns about their economic impact. This article explores the implications of these decisions on trade relations and the global economy.
Regulation of liquefied natural gas (LNG) export projects in the USA is evolving rapidly, with major implications for the Rio Grande and Texas LNG projects. Recent court rulings highlight the tensions between economic development and environmental concerns.
Regulation of liquefied natural gas (LNG) export projects in the USA is evolving rapidly, with major implications for the Rio Grande and Texas LNG projects. Recent court rulings highlight the tensions between economic development and environmental concerns.

Advertising