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Is a Russia-Iran gas deal on the horizon?
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China’s critical gas position
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Russia China Sanctions
Kaho Yu
29 March 2022
Follow @PetroleumEcon
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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

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