FX.co ★ Russian-Chinese relations format or one-part fruitful friendship

Moscow continues to bolster ties with Asia, which is demonstrated by numerous successfully concluded treaties covering such spheres of life as energy, trade and agriculture. The Russian Federation strategy for promoting reapproachment with China shows first positive results which have already evoked discontent of the Western countries. According to the official minutes of the Russian Premier visit to the People's Republic of China, 38 agreements were signed and the dates of further negotiations were set. The Kremlin which has been in partial isolation from the world community for some time now, believes the endorsed agreements are a considerable breakthrough. “We would like to come to more agreements next year. Both sides stated that they are actively starting the negotiation part”, said Dmitry Medvedev, the Prime Minister of the Russian Federation. Still there is no clarity as to the main treaty touching upon the delivery of the Russian gas to China. It is to be recalled that a gas pipeline will be constructed for this purpose. The Prime Minister of China did not give direct comments as to this matter, having stated that additional discussion is needed. Moreover, the Russian oil price has not been set in the agreement by far. Certain companies are negotiating a few issues that are to be approved later on by our enterprises, blurred the Prime Minister of the State Council of the People's Republic of China. Changing the direction of the pipeline from the West to the East is the only way for Russia to recover financial losses stemming from the sanctions against Russia, which are unlikely to be called off within the next few years.
By far, China made advantage of the situation and signed an easy agreement on currency swaps in the amount of 150 billion yuan. This is the way China tends to strengthen the yuan on the world stage.