Putin: Russia and China are important mutual trading partners

Beijing — Russian President Vladimir Putin on Wednesday, 20 May, said that Russia and China are important trading partners for one another. ‘I want to emphasise that Russia and China are important trading partners for each other. In 2025, the value of trade will reach almost $240 billion,’ Putin told reporters after the Russia-China talks. According to Putin, the trade structure between the two countries is also diversifying, including through increases in trade of high value-added goods. Almost all Russia–China trade transactions are now conducted in rubles and yuan, he said. He added that the two countries have also built a bilateral trading system that is stable and shielded from fluctuations in global markets. ‘Coordinated steps by Russia and China to use national currencies in bilateral transactions are very important,’ he said. Furthermore, Putin said the two countries are working to strengthen partnerships in minerals and critical metals.