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China and Russia Leaders Set to Meet Wednesday

OIL

Russian President Putin arrived in China Tuesday where he is hosted by Chinese President Xi Jinping.

  • Putin was invited to China’s third Belt and Road Initiative forum where the leaders of 130 countries will discuss one of Xi’s signature international projects.
  • Putin and Xi are scheduled to meet with one another Wednesday. They last met in Moscow in March.
  • The trip is not a full-fledged bilateral visit - but one made on the sidelines of an international conference, according to the Kremlin.
  • The heads of Russia's oil and gas giants Rosneft and Gazprom are part of Putin's travelling delegation, but no new energy deals have circulated ahead of the meet – though Power of Siberia 2 pipeline discussions may be part of the agenda.
  • China has emerged as a major buyer of Russian oil since the invasion of Ukraine.
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