The Chinese president's visit to Moscow has many implications, including an indication that "China and its friends are no longer obliged to conform to a US-led global order".
The first visit by Chinese President Xi Jinping’s visit to Moscow since the start of the Ukraine war was much anticipated. For Russia, it was a demonstration of friendship with an economically powerful country – a crucial show of strength when it is facing sanctions on nearly every aspect of its economy. Keen to keep Moscow firmly in its camp, Beijing also wanted to project Chinese President Xi as a ‘peacemaker’, to further his diplomatic credentials in the wake of the Saudi-Iran agreement.
Despite the hype over the visit, the main joint statement issued by Russia and China on the second day of the visit on Tuesday was relatively measured.
Just weeks before the start of the Ukraine war last year, the two leaders had pledged that there were “no limits” to the friendship of the two countries. But, that phrase did not make an appearance this time.
“The friendship between the two peoples from generation to generation has a solid foundation, and all-around cooperation between the two countries has broad prospects. Russia needs a prosperous and stable China, and China needs a strong and successful Russia,” said the joint statement on deepening comprehensive strategic partnership.
The second joint statement was an affirmation towards the establishment of a stronger economic relationship, with a large laundry list of proposals that were part of a long-term plan to be implemented by 2030.
Russia specifically noted that the two countries could join forces to become world leaders in information technology and artificial intelligence.
The Chinese state media highlighted that Russia was increasingly going to use the renminbi in trade. President Vladimir Putin said the share of use of the ruble and yuan had already reached 65% of bilateral commercial transactions. It would allow “us to protect mutual trade from the influence of third countries and negative trends on global currency markets,” said Putin.
According to Reuters, the summit produced 14 agreements but did not result in inking a deal for a new gas pipeline to China via Mongolia. “China is well placed to drive a hard bargain, as Moscow needs the deal more: Gazprom [the Russian majority state-owned multinational energy corporation] is looking to China to make up for the collapse of the European market that used to account for 80% of its exports,” observed the Reuters analysis.
The South China Morning Post noted that the joint statement had a more vague reference to the proposed Power of Siberia 2 pipeline, while the Russian President had claimed that it was finalised. Quoting experts, the newspaper reported that the new pipeline would further support the notion that China and Russia are getting even closer with each other in the face of Western sanctions and confrontations.