Russia and China in it for the long term
The relationship is likely to weather any temporary turbulence, even as it becomes ever more structurally unbalanced
Beijing has been consistent in its economic support for Moscow, even while the war in Ukraine has tested the strength of the China-Russia partnership. And China’s support, albeit hugely restrained in public—alongside escalating tensions with the West and crippling economic sanctions—is speeding up Russia's ‘pivot to the east’, despite there being potentially only one major winner (which is not the Putin administration) in the strategy. A handful of Chinese banks with overseas operations are reportedly following US sanctions and restricting financing for Russian commodities. But this will likely have a limited impact on Beijing’s overall geopolitical willingness to help Moscow counter Western
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals