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
26 February 2026
OPEC, upstream investors and refiners all face strategic shifts now the Asian behemoth is no longer the main engine of global oil demand growth
25 February 2026
Tech giants rather than oil majors could soon upend hydrocarbon markets, starting with North America
25 February 2026
Capex is concentrated in gas processing and LNG in the US, while in Canada the reverse is true
25 February 2026
The surge in demand for fuel and petrochemical products in Asia has led to significant expansion in refining and petrochemicals capacities, with India and China leading the way






