Putin Visits Beijing as Russia-China Trade Ties Deepen

Russian President Vladimir Putin visited Beijing in 2026 for his first international trip of the year. The visit followed more than four years of closer cooperation between Russia and China that began after the February 2022 phrase "no limits partnership" was used by both leaders.

Since 2022, China has supplied machinery, electronic components, and other goods to Russia while purchasing Russian hydrocarbons. Russia now runs a trade surplus with China and relies on Chinese markets for oil and gas exports after losing European buyers.

China buys 50 percent of Russia's oil exports and accounts for 18 percent of its own crude imports from Russia. Russian crude reportedly sells at a growing discount to Chinese buyers under current sanctions conditions.

No new agreement was announced during the visit on the proposed Power of Siberia 2 pipeline. The project would carry 50 billion cubic meters of natural gas annually over 2,600 kilometers from western Siberia to northeastern China. China maintains alternatives through terminals and long-term contracts with suppliers in Australia, Malaysia, Indonesia, and the United States.

Negotiations for the earlier Power of Siberia 1 pipeline lasted more than a decade before Russia accepted China's pricing and cost terms.

Russia exports commodities including oil, gas, agricultural products, and minerals to China. In return, Russia receives electronics, vehicles, industrial equipment, and consumer goods. The share of new Chinese cars sold in Russia rose from less than 20 percent to 57 percent between 2022 and 2025.

Chinese firms have taken over production at former Western-owned plants, including a former Volkswagen facility near Kaluga now assembling models for Chery. Russian analysts have noted concerns about maintaining equal footing in the relationship.