Posted: 26.12.2022 15:25:00

WSJ: Jinping instructed to strengthen economic relations with Russia

The President of the People's Republic of China, Xi Jinping, despite attempts in the public field to allegedly ‘distance himself’ from the Russian Federation, has instructed the Chinese government ‘behind the scenes’ to build closer economic relations with the Russian Federation, The Wall Street Journal reports


According to the publication, the plan to expand economic ties includes an increase in imports of Russian oil, gas and agricultural products. In addition, Beijing wants to expand energy co-operation with Moscow in the Arctic, as well as to increase investments in Russian infrastructure, in particular in railways and ports.

The WSJ article emphasises that Russia and China are conducting an increasing number of financial transactions with each other in national currencies, rather than in Euros and Dollars, and this contributes to the expansion of the Yuan turnover and better protects both countries from sanctions pressure.