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Xi, Putin Re-Commit to Strategic Partnership

RUSSIA
  • Putin is currently visiting China and holding bilateral talks with President Xi Jinping. The Kremlin readout of the meeting unsurprisingly frames the Russia-China relationship as a stabilising force in the world, conducive to peace and willing to uphold fairness and justice. The two leaders co-signed a joint statement on deepening the "comprehensive strategic partnership" between the two nations.
  • Politico writes that Russia have found export channels into the EU for their energy products by selling via Turkey, exposing a loophole in current sanctions. Politico point to data showing Turkish fuel imports from Russia rising 105% Y/Y, and their fuel exports to the EU rising by 107% over the same period.
  • Vedomosti write that the economy ministry are aiming to increase the limit of spending via the Wellbeing Fund from RUB 4.2trl to RUB 6trl, with improved liquidity allowing for greater spending.
  • CBR inflation expectations data is due later today, as well as gold and FX reserves data. Putin continues his visit in China, accompanied by the foreign minister, finance minister, CBR governor, deputy PM and heads of Rosneft and Sberbank.

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