Media Wire

Russia predicts trade with China to hit record $200 billion

Trade between Moscow and Beijing is expected to hit a new record level of $200 billion this year, said Russian Prime Minister Mikhail Mishustin during a trip to China. The remarks came as Moscow faces growing isolation from the West over the Ukraine war.

Russia has been hit by unprecedented Western sanctions since it unleashed a devastating war against Ukraine and has been shut out of much of the global economy.

But China, which has declared “no limits” to its friendship with its northern neighbor, has thrown the Kremlin an economic lifeline, tempering the impact of its banishment from the global financial system.

Last year, bilateral trade jumped nearly 30% to a record $190 billion, mainly boosted by China buying Russian energy. This year, their trade continued to surge, up 41% in the first four months, according to Chinese customs figures.

“I believe that this year we will be able to achieve the goals set by the two countries’ leaders and bring the total trade to $200 billion,” Mishustin said during a speech at the China-Russia business forum in Shanghai on Tuesday, according to China’s state-run Global Times.

That will be one year ahead of the schedule set by Russian President Vladimir Putin and Chinese leader Xi Jinping in 2019.

Energy cooperation with China remains Russia’s “absolute priority,” Mishustin added.

IFP Media Wire

Reports and views published in the Media Wire section have been retrieved from other news agencies and websites, and do not necessarily reflect the opinion of the Iran Front Page (IFP) news website. The IFP may change the headlines of the reports in a bid to make them compatible with its own style of covering Iran News, and does not make any changes to the content. The source and URL of all reports and news stories are mentioned at the bottom of each article.

Recent Posts

Four terrorists killed during clash with IRGC forces in Iran’s southeast

Iranian security forces have killed another four terrorists in the southeastern city of Rask in…

36 mins ago

Former Parliament chief: Iran should not tie affairs to Trump

The former speaker of the Iranian Parliament and a current member of the country's Expediency…

48 mins ago

IRGC chief commander: Resistance grandeur led to changes in US leadership

The commander-in-chief of Iran's Islamic Revolution Guard Corps (IRGC) says that the power of Palestinian…

2 hours ago

Iran signs key agreements during communications minister’s visit to Cuba, Venezuela

Iran’s Minister of Communications Sattar Hashemi has recently concluded a "productive" six-day trip to Cuba…

4 hours ago

Iran’s president says no matter who has won the US  vote

The Iranian President, in his first reaction to Donald Trump's victory in the US presidential…

4 hours ago

Iraq’s FM denies reports Iran planning attack on Israel from Iraqi territory

Iraqi Foreign Minister Fuad Hussein has dismissed reports suggesting that Iran is planning a retaliatory…

7 hours ago