Putin: Russia and China Will Soon Finalize New Energy Agreements

Russian President Vladimir Putin said Russia and China will soon finalize new agreements that he expects will make the global energy market “happy.” The remarks were made during a Q&A session with international news agency heads on the sidelines of the St. Petersburg International Economic Forum.

According to the transcript published by RT, Putin told China’s Xinhua news agency that Russia did not pivot toward Asia after the start of the Ukraine conflict. He described Russia and China as “natural allies and partners and neighbors” and said their relationship “is not directed against any third country.”

Putin noted that a treaty signed 25 years ago laid the foundations for the current level of cooperation between the two countries. He referred to Chinese President Xi Jinping as “my old friend.”

The Russian leader also spoke about cooperation with other countries. He said Russia is actively working with Egypt to build a nuclear power plant in the Nile Valley and expressed hope that the first unit will be operational by 2028, with a significant number of local specialists taking part in the construction. “It’s a powerful project, and we are actively working in other areas,” he said.

Putin stated that ties with Kazakhstan are “developing successfully on an upward trajectory,” citing cooperation in energy, industry, space and plans to expand into nuclear power, including Russian assistance to build a nuclear plant there. He told Press Trust of India that Russia will continue to invest in the Indian economy and has “promising, far-reaching plans” for cooperation with New Delhi.

The Russian president described India as a “specially privileged strategic partner” and said bilateral trade could reach $100 billion in the coming years. He added that U.S. attempts to pressure India “are useless” and cause no problems for Russia-India relations.