Russia-China Alliance at ‘Unprecedented Level,’ Putin Declares

President Vladimir Putin has described the relationship between Russia and China as having reached an “unprecedented level,” underscoring the deep strategic and economic ties between the two nations. As leaders prepare to meet at the SCO Summit, Putin highlighted the remarkable growth in bilateral trade, which has surged by approximately $100 billion since 2021.
This economic boom has solidified China’s position as Russia’s foremost trading partner. Putin noted that Russia, in turn, ranked as China’s fifth-largest foreign trade partner last year, demonstrating a mutually beneficial commercial relationship. This partnership is a key focus as both nations navigate a complex global landscape.
A significant element of this alliance is the strategic shift away from the US dollar. Putin revealed that trade transactions between Moscow and Beijing are now almost exclusively conducted in their national currencies, the ruble and the yuan. This move is a direct challenge to the long-standing dominance of the US dollar in international trade.
Looking ahead, both countries are committed to deepening their economic integration. Putin affirmed that Russia and China will continue their efforts to dismantle trade barriers and boost commercial exchange. This includes a special focus on mobilizing resources for critical infrastructure projects, further cementing their partnership.