Russia "Preparing Gas Agreement for Putin-Xi Jinping Summit"... Preparing for US Sanctions?

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Russia announced that it is preparing to sign an agreement related to natural gas between Russia and China at the summit meeting between the two countries to be held alongside the opening ceremony of the Beijing Winter Olympics on the 4th. This is interpreted as a move to emphasize economic and military cooperation between the two countries and to jointly respond to sanctions pressure from the United States and the West.

According to Russia's TASS news agency, Yuri Ushakov, senior foreign policy advisor to the Kremlin, said at a press briefing, "President Vladimir Putin and Chinese President Xi Jinping will discuss international security and bilateral issues at the summit meeting during the Beijing Winter Olympics and prepare a joint statement on international relations," adding, "Although we cannot disclose detailed information at this time, many agreements are being prepared in the natural gas sector."

Earlier, President Putin also emphasized in an article contributed to Xinhua News Agency regarding his attendance at the Beijing Winter Olympics opening ceremony, stating, "The comprehensive partnership and strategic cooperation between the two countries have reached an unprecedented level, becoming a model of efficiency, responsibility, and aspiration for the future," and "During the visit to China, I will have comprehensive discussions with President Xi on bilateral and international agendas."

According to TASS, the Russian government delegation will enter China on the 4th for President Putin's attendance at the Beijing Winter Olympics opening ceremony. Initially planned to consist of about 20 to 25 members, only a six-member delegation will visit due to COVID-19. Advisor Ushakov explained, "The Russian Minister of Energy is also included in the delegation and will discuss cooperation in the gas sector."

At this summit, the two leaders are expected to strengthen cooperation for joint responses to the West regarding recent international issues such as the Ukraine situation. In particular, Russia is expected to seek to expand natural gas exports to China, keeping in mind the possibility of economic sanctions from the United States and the European Union (EU).

Previously, Russia opened the 'Power of Siberia' gas pipeline, a 4,000 km pipeline transporting gas from Russia to China, in December 2019, and has been increasing its gas exports to China annually.

This content was produced with the assistance of AI translation services.