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Putin and Xi Strengthen Ties in Beijing, Energy Deal on Siberia 2 Pipeline Stalls

Putin and Xi Strengthen Ties in Beijing, Energy Deal on Siberia 2 Pipeline Stalls
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Russian President Vladimir Putin and Chinese leader Xi Jinping reaffirmed their “highest in history” partnership in Beijing on 20 May, hailing personal friendship and booming energy trade while stopping short of sealing the giant Power of Siberia 2 gas pipeline that Moscow has sought for years aljazeera +1. More than 40 cooperation agreements were signed and a key 2001 friendship treaty was extended, underscoring deepening alignment as both leaders bristled at U.S. power and missile-defense plans aljazeera +3.

A Carefully Choreographed Show of “Unprecedented” Ties

Meeting at the Great Hall of the People just days after Xi hosted U.S. President Donald Trump, the two men traded effusive public praise, with Xi calling Putin his “longtime friend” and Putin responding that “one day apart feels like three autumns,” borrowing a Chinese idiom to underline personal warmth aljazeera +1. The leaders signed or oversaw more than 40 agreements spanning trade, technology, media and local‑government links, and agreed to extend their Treaty of Good‑Neighbourliness and Friendly Cooperation first signed in 2001 aljazeera +1.

A lengthy joint declaration framed the relationship as a pillar of a “multipolar world,” criticized U.S. plans for a “Golden Dome” missile-defense shield as a threat to strategic stability, and echoed many of Moscow’s talking points on Ukraine, with Beijing endorsing language on addressing the “root causes” of the conflict theguardian +2. The summit also allowed Xi to showcase Beijing as the new hub of great‑power diplomacy, having welcomed both Trump and Putin within a week nytimes +1.

Energy Trade Surges, but Power of Siberia 2 Deal Still Elusive

While Putin called energy the “driving force” of bilateral economic ties, the visit produced symbolism rather than the blockbuster gas deal the Kremlin had sought aljazeera. Kremlin spokesman Dmitry Peskov said the sides had reached a “shared understanding” on the route and construction concept for the proposed Power of Siberia 2 pipeline from Russia’s Yamal fields through Mongolia to China, a 2,600‑kilometer project slated to carry about 50 billion cubic meters of gas annually kremlin +1. But there was no binding agreement on pricing, volumes or start date, and official documents listed no new long‑term oil or gas contracts kremlin +1.

In practice, China has already become Russia’s critical energy lifeline. Bilateral trade hit around $228 billion in 2025, anchored by record oil and gas flows; China bought roughly 2.01 million barrels of Russian crude per day last year and increased purchases by about 35% in the first quarter of 2026, according to Russian and Chinese data kremlin +1. Gas deliveries through the existing Power of Siberia 1 line reached about 38.8 billion cubic meters in 2025, slightly above its design capacity, while Russian LNG shipments to China climbed to nearly 9.8 million tons kremlin. Analysts noted that the lack of a PoS‑2 deal highlighted Beijing’s leverage: Russia needs to replace lost European gas revenues, but China is in no hurry to lock in long‑term prices amid volatile global markets cnn +1.

The Bigger Picture

The Beijing summit underlined how sanctions and wars have accelerated a structural shift in global energy and security politics, with Russia more dependent on China as buyer, financier and diplomatic shield, even as Beijing carefully calibrates its exposure. The embrace between Xi and Putin — and their shared challenge to U.S. missile-defense and alliance structures — signaled a durable axis, but the unresolved gas pipeline also showed that personal warmth and talk of a “no limits” partnership still run up against hard commercial and strategic calculations on both sides theguardian +2.