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Rosneft CEO: Protectionism, Trade Wars Stimuli for Russian-Chinese Cooperation

© REUTERS / Kim Kyung-HoonA child holds the national flags of Russia and China prior to a welcoming ceremony for Russian President Vladimir Putin outside the Great Hall of the People in Beijing, China, June 25, 2016
A child holds the national flags of Russia and China prior to a welcoming ceremony for Russian President Vladimir Putin outside the Great Hall of the People in Beijing, China, June 25, 2016 - Sputnik International
BEIJING (Sputnik) – The strengthening of protectionism and the impedance of trade wars are the additional incentives for the development of Chinese-Russian cooperation, Igor Sechin, the CEO of Russia's energy giant Rosneft, said on Thursday.

"The peculiarities of the existing political environment, the strengthening of protectionism and the risk of trade wars in the global economy are the additional incentives to cooperate more closely and make more quick decisions," Sechin said at the Russian-Chinese energy business forum.

The high level of inter-relations in the energy infrastructure was the guarantee of strategic stability in the relations between the two states and a factor of energy security of both Moscow and Beijing, Sechin added.

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Sechin continued by suggesting that there were all the necessary prerequisites for Chinese-Russian cooperation to move to a new level and to entail new areas.

The official suggested that it was high time for Moscow and Beijing to check if they were on the same page with regard to key areas of strategic energy development as the adoption of the new development plan by the Chinese leaders was impending.

Sechin argued that the potential for bilateral energy cooperation had not been exhausted, noting the Moscow and Beijing had agreed on setting up a platform for the continuous exchange of opinions.

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The Rosneft CEO also suggested that China’s increasing demand for energy could be met by the multifold increase of imports from Russia.

Meanwhile, China’s Vice-Premier Han Zheng said that the cooperation between China and Russia is extremely important for ensuring the global energy security amid the rise in trade protectionism.

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"I would like to emphasize that the strengthening of the Russian-Chinese energy cooperation is very important for jointly ensuring energy security and forming the open global economy, amid the rise in unilateralism and trade protectionism," Han said at the Russian-Chinese energy business forum.

The official noted the existing challenges in the energy area and difficulties in achieving accessibility of sustainable energy.

"Being influential global powers, Russia and China share a mission of jointly ensuring global security and supporting the sustainable development of energy resources through cooperation," Han pointed out.

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