Three key takeaways from Putin's Beijing trip — and what they reveal about China-Russia ties

Russian President Vladimir Putin concluded a visit to Beijing with declarations of enduring friendship and a package of over 40 bilateral agreements, but no resolution on the critical Power of Siberia 2 gas pipeline. The project, essential for redirecting Russian gas exports from Europe to China, stalled over pricing, financing, and delivery disputes, with no clear timeline despite a 2025 memorandum. Russian Press Secretary Dmitry Peskov acknowledged that key parameters were agreed upon but that ‘some nuances remain,’ while Chinese President Xi Jinping emphasized energy cooperation as a foundation for relations without mentioning the pipeline specifically. Analysts described the absence of a deal as a setback for Putin, who had signaled progress was imminent. The failure underscores China’s cautious approach to energy dependence, as Moscow seeks to offset lost European markets following sanctions over the Ukraine war. Russia remains China’s top energy supplier, though Beijing holds more leverage in trade, accounting for only 4% of China’s total commerce. Beyond energy, Putin and Xi reaffirmed ‘unyielding’ ties, signing agreements on trade, education, technology, and nuclear security. Both leaders vowed to deepen military cooperation, including joint exercises and patrols, while reaffirming support for China’s ‘One China’ principle and Russia’s stance on Ukraine’s sovereignty. The summit highlighted Beijing’s strategic balancing act, prioritizing economic and diplomatic ties while avoiding over-reliance on Moscow. The Power of Siberia 2 pipeline, if completed, would deliver up to 50 billion cubic meters of gas annually—nearly doubling the current output of the Power of Siberia 1 system, which supplies around 38 billion cubic meters yearly. However, delays and unresolved terms reflect China’s reluctance to lock into long-term energy commitments amid global market uncertainties. The visit underscored the evolving dynamics of the China-Russia partnership, where Beijing’s influence continues to grow.