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Xi's Visit to Russia Set to Cover Energy Discussions

OIL

Putin has welcomed the Chinese President to Moscow today for a state visit that is set to cover energy discussions that may prove crucial for Russia to export soaring volumes longer term – especially for gas.

  • Russian President Vladimir Putin has described trade and economic partnership between Russia and China as a priority and expressed confidence that trade between the two countries would exceed $200 billion as early as this year.
  • "It is noteworthy that the share of settlements in national currencies in our mutual trade is growing, further strengthening the sovereignty of our relations," Putin said.
  • The Kremlin said Friday that talks would include detailed discussions on energy.
  • Russia is facing pressure to try and reroute its gas volumes into new markets now it has largely lost flows to Europe. It will be hoping that China in particular steps up commitments to buy gas longer term.
Energy BulletsCommodities
Energy BulletsCommodities

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