Putin and Xi Meet in Moscow: Take Stock of Global Developments

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During a high-profile summit that coincided with Russia’s Victory Day celebrations, the two leaders signed a joint statement pledging to boost trade and investment by 2030.

Russian President Vladimir Putin and Chinese President Xi Jinping met in Moscow to reaffirm and expand their “strategic partnership” amidst intensifying Western pressure.

During a high-profile summit that coincided with Russia’s Victory Day celebrations, the two leaders signed a joint statement pledging to boost trade and investment by 2030. The agreement outlines a plan to scale up bilateral economic ties by increasing the share of high-tech goods, developing new e-commerce strategies, and enhancing mutual supplies of vital commodities such as mineral resources and agricultural products.

Xi, for his part, emphasised a broader geopolitical vision, framing the deepening cooperation as a joint stand against what he called a growing international trend of “unilateralism and power bullying.”

Xi arrived in Moscow on Wednesday for a four-day visit, during which he will attend commemorative events and hold further talks with the Russian leadership. The visit underscores Beijing’s increasingly public backing of Moscow, which has come under heavy Western sanctions and diplomatic isolation since its full-scale invasion of Ukraine in 2022.

China has refrained from sending weapons to Russia but has emerged as a crucial economic partner, particularly in the energy sector. It now represents one of the largest markets for Russian oil and gas revenues that are helping sustain the Kremlin amid war-related expenditures.

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Additionally, Beijing has become Moscow’s key supplier of machinery and electronics after Western sanctions cut off access to much of Russia’s high-tech imports. These exports have helped maintain Russia’s military-industrial complex even as global supply chains have tightened.