Putin will promote expanding trade between Moscow and Beijing in northeastern China

Vladimir Putin, the president of Russia, will emphasize the expanding significance of trade in the northeast of China, close to the Russian border, on Friday, following his declaration of a “new era” of strategic partnership with Xi Jinping, the leader of China.

Putin visits a Russian-China Expo and an interregional cooperation meeting in Harbin, Heilongjiang province, which has longstanding trade and cultural links to Russia, before concluding his two-day red carpet visit to China.

Putin is looking more and more to China to maintain Russia’s war economy as a result of political isolation and Western sanctions resulting from Russia’s two-year invasion of Ukraine.

In the midst of a lavish state visit, Putin and Xi celebrated the “new era” by signing a joint statement on Thursday that matched the U.S. on a number of security and economic fronts as well as a common global perspective.

“The China-Russia relationship today is hard-earned, and the two sides need to cherish and nurture it,” Xi said to Putin.

“China is willing to… jointly achieve the development and rejuvenation of our respective countries, and work together to uphold fairness and justice in the world.”

The joint agreement further develops the “no limits” alliance that the two announced in February 2022, just days before Putin launched the bloodiest land conflict in Europe since World conflict Two by deploying tens of thousands of troops into neighboring Ukraine.

U.S. officials stated last month that Beijing is assisting Moscow in the war effort by sending machine tools, satellite imagery, drone and missile technologies, and machine tools. China maintains that it has not given weapons to any party.

Russian commerce with China increased 26.3% to a record $240.1, according to Chinese customs data, last year as a result of Russia’s isolation from other powers. China’s primary supplier of crude oil is now Russia rather than Saudi Arabia, as supplies have increased by more than 24% in spite of Western sanctions.

China has been Russia’s biggest economic partner for 13 years running, according to an editorial published in China’s state-run Global Times newspaper on Friday. The editorial emphasized the significance of growing trade ties to the larger relationship.

“These achievements are not easy and have been achieved by both countries overcoming various external challenges and unfavorable factors, highlighting the solid foundation of the China-Russia relationship,” the piece said.

A sizable trade delegation, led by Central Bank Governor Elvira Nabiullina and Finance Minister Anton Siluanov, surrounds Putin.

Other notable figures are the CEOs of Russia’s biggest banks, Sberbank (SBER.MM), VTB (VTBR.MM), and billionaire Oleg Deripaska, top oil producer Rosneft (ROSN.MM), new tab chief Igor Sechin, and CEO of liquefied natural gas giant Novatek, Leonid Mikhelson.

If Putin will make any more trips to Asia, it was unclear at first.