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Russia pushing for more farm exports to China as Western sanctions bite, says diplomatic source
- While energy remains the backbone of China-Russia trade, Moscow wants to boost exports of farm goods, a Russian diplomatic source says
- In the meantime, China’s stringent coronavirus border controls and concerns over secondary sanctions remain obstacles to deepening trade ties
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Russia is looking to broaden trade ties with China beyond the energy sector, with a particular focus on farm goods, a diplomatic source says, as Western nations step up enforcement of sanctions against Moscow over its invasion of Ukraine.
But Beijing’s stringent coronavirus controls and concern over secondary sanctions remain obstacles to deepening economic bonds, the source said, although there was a growing mood of cooperation between the strategic partners.
The Chinese government strengthened its partnership with Russia to one that has “no limits” and “no forbidden areas”, three weeks before Russian President Vladimir Putin launched his country’s all-out attack on Ukraine on February 24. Beijing has refused to condemn Russia’s invasion and resisted calls to apply economic pressure on Moscow.
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Since then, China has stepped up imports from Russia, especially energy products. Purchases of Russian agricultural goods like meat, seafood and soybeans expanded last month, but crude oil and natural gas still accounted for more than two-thirds of growth by value between January and July, customs released on Saturday showed.
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China says ‘no limits’ in cooperation with Russia
China says ‘no limits’ in cooperation with Russia
While energy remains the backbone of trade, a Russian diplomatic source said Moscow thinks there is room for expansion.
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