Putin Calls Xi 'Old Friend' but Secures No New Pipeline Deal at St. Petersburg Forum

Russian President Vladimir Putin described his relationship with Chinese President Xi Jinping in personal terms at the 29th annual St. Petersburg International Economic Forum on Wednesday. "I do have a good relationship with President Xi Jinping.

He calls me 'old friend,' and I also call him that," Putin said. "This is no exaggeration or figure of speech. " The comments came just over two weeks after Putin's latest trip to Beijing. That visit was his 25th to China, and he has met Xi more than 40 times since Xi took office in 2013.

Putin was accompanied by Cabinet members and business leaders on the trip. " He said the foundation was laid in 2001 with the Treaty of Good-Neighborliness and Friendly Cooperation signed with then-Chinese leader Jiang Zemin. Cross-border trade between Russia and China hit approximately $228 billion last year, more than 50 percent higher than prewar volumes.

During the most recent visit, Xi hailed a "new stage of greater achievements" in relations between their countries. The two leaders issued a 10,000-word joint statement and signed dozens of agreements. The agreements did not include approval for the Power of Siberia 2 pipeline.

The 1,616-mile project would roughly double Russia's pipeline gas exports to China. Putin's trip to Beijing came just days after President Donald Trump's own state visit to China. " Trump has invited Xi to visit Washington in September.