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Putin Offers Cheap Energy, Perks to Chinese Investors
Russian President Vladimir Putin offered China the possibility of affordable energy supplies today and promised advantages for companies from the Asian country that invest in Russian territory.
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Mundo Rússia
"Russia is ready and capable of supplying China's economy, businesses, cities and villages with affordable and environmentally friendly energy resources, electricity and heat on a stable and reliable basis," Putin said in his opening remarks at the eighth Russia-China Expo in the northeastern Chinese city of Harbin, Heilongjiang province.
The Russian president stressed that the two countries' partnership in the energy sector, which he called "a reliable pillar of the global energy market," will continue to expand in the future.
Hailing the interest of Chinese companies in manufacturing in Russia, Putin said that investors will be offered "favorable economic conditions, assistance and support," as well as access to the country's technology and "highly qualified personnel."
The Russian president once again touted the strong trade relationship between Moscow and Beijing, which comes as both countries face economic sanctions and punitive tariffs imposed by third parties — in the former's case due to the war in Ukraine, and in the latter's case due to trade disputes.
"I believe we can be proud of the results of our economic ties," Putin said.
Trade between China and Russia surged by 26.3% year-on-year in 2023, reaching $240 billion (€223 billion).
Beijing has become the largest market for Russian oil and gas, and a major source of imports, including dual-use civilian and military goods that are helping to keep the Russian war machine running, despite China's ban on arms sales to its neighbor.
In his speech, Putin invoked the two countries' shared camaraderie in the face of external enemies, amid growing pressure from the West on both nations.
He highlighted the participation of Soviet soldiers in liberating China from Japanese occupation in 1945, speaking a day after he met with Chinese President Xi Jinping in Beijing for face-to-face talks that dashed Western hopes that Beijing would pressure Moscow to end the war in Ukraine.
This is Putin's second visit to China in less than a year, following a trip in October 2023.
Read Also: Xi and Putin together? Trump says they're meeting to "cause damage" (Portuguese version)
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