Despite Western sanctions, Russia-China trade to reach US$200 bil by 2024
RUSSIA said yesterday that it expected commodity flows with China to grow and trade with Beijing to reach US$200 bil by 2024, as Moscow faces mounting isolation from the West.
China has refused to condemn Russia’s actions in Ukraine and has criticised the unprecedented Western sanctions on Moscow. The two countries have bolstered ties in recent years, including announcing a “no limits” partnership in February.
“We are focused on achieving the goal set by the heads of state to bring bilateral trade turnover to US$200 bil by 2024,” Georgiy Zinoviev, head of the Russian foreign ministry’s first Asia department, told the Interfax news agency.
“Moreover, we suggest that reaching this ambitious figure earlier than planned is quite possible.”
With Russian trade buffeted by sanctions, Zinoviev said time was needed to adapt. He said China’s struggle with COVID-19 in recent weeks was also a factor that could complicate efforts.
“Chinese business remains interested in expanding its presence in Russia, for whom additional opportunities are opening up given the departure of some Western companies,” Zinoviev said.
He acknowledged the risk of secondary action that Chinese companies could face if they help Russia circumvent sanctions, but said that a significant increase in cooperation was likely nonetheless.
“It is clear that in the current situation many Chinese economic operators have to exercise caution, given the likelihood of secondary sanctions,” said Zinoviev.
“I am convinced our partners and us will be able to use the current situation to our common interests and fully unlock the potential for a significant increase in cooperation in all areas.” – May 1, 2022
With the coming collapse of the Yankee economy, the secondary sanctions r no longer an issue. It's just a farcical empty talk.
ReplyDeleteThe crumbling recession initiated by the high inflation would force USofA to beg for any helps of any firms, which unfortunately none of his 'used-to' subservient allies could no longer provide. Bcoz they r ALL into that maelstrom of fiscal overindulgence of QE, with the supplementary help of the covid pandemic.