Overview
- Russian President Vladimir Putin, who arrived in Beijing for a two-day state visit on Wednesday, met Xi Jinping in a ceremonial summit and signed nearly two dozen cooperation agreements while extending their 2001 friendship treaty.
- Energy dominated talks as both sides stressed closer oil and gas ties, yet Kremlin spokesman Dmitry Peskov said the proposed Power of Siberia 2 pipeline reached only a 'basic understanding' with no clear timeline or final terms.
- Xi and Putin issued joint statements calling for dialogue and negotiation to resolve the wars in Ukraine and the U.S.-Israeli conflict with Iran, presenting coordinated diplomatic positions without condemning Moscow’s actions in Ukraine.
- Officials reported rising trade and energy flows with Russia’s oil exports to China up sharply and bilateral trade surpassing roughly $200 billion, with more transactions settling in rubles and yuan to limit dollar exposure.
- By hosting President Trump days earlier and then Putin, Beijing showcased its diplomatic weight, strengthened economic dependence between Moscow and Beijing, and left key bargaining points such as pipeline pricing and schedules unresolved, which could shape energy security and regional leverage in the months ahead.