Russia-China summit signals strategic realignment as Moscow deepens dependence on Beijing Russian President Vladimir Putin arrived in Beijing on May 19, for a two-day summit with Chinese President Xi Jinping, timed to mark the 25th anniversary of the nations’ cooperation treaty. Bilateral trade exceeded $240 billion in 2025, with trade turnover up nearly 20% in early 2026, as Russia shifts from European markets to Chinese buyers. Russia and China have phased out Western currencies in bilateral trade, with over 99% of transactions now conducted in rubles and yuan. Putin seeks Chinese approval for the Power of Siberia 2 pipeline, which…
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