Russian President Vladimir Putin was able to convince China’s government to sign a gas agreement with China during a two-day visit. The multi-billion dollar contract has already been called the deal of the century. So, Vladimir Putin ended more than a decade of false starts and wrangling over a deal seen as vital to the largest global gas corporations. International observers closely watched each step of the painstaking gas negotiations. However, after the deal had been finalized, Gazprom CEO Alexey Miller declined to comment on the price of gas supplies to China. Officially, the sales contract sets out to keep the business secret. Unofficially, China beat the Russian side down to a much lower price. The gas talks lasting for 10 years collapsed over differences on pricing. However, Beijing took advantage of the Western cold-shouldered stance towards Russia. Thus, China obviously managed to strike a bargain with a big discount. Citing Alexey Miller, the gas contract includes a provision for taxes on preferential terms. According to the domestic expert estimates, 1,000 cubic meters of natural gas costs $350 under the newly signed contract whereas in Europe a price of 1,000 cubic meters varies from $380 to $400. Importantly, China National Petroleum Corporation (CNPC) reached an accord on gas deliveries via the Eastern pipeline called “Power of Siberia”. The official media revealed that 38 billion cubic meters of gas would be supplied to China annually. So, the Western sanctions turned out to be the main driving force which facilitated the soonest outcome of the long-lasting gas talks.