In an article titled “As Europe Shuns Russia, Putin Increasingly Embracing China”, written by Kenneth Rapoza and carried by Forbes, the famous publication reports how:
“Less than 48 hours after Brussels opted to extend sanctions on Russian energy and financial firms for another six months, Putin announced that he will meet with Chinese leader Xi Jinping this weekend to discuss “practical measures to further strengthen ties,” according to the official press release. A package of bilateral agreements is expected to be signed. Putin’s trip to China takes place following the June 23-24 Shanghai Cooperation Organization Summit in Tashkent, Uzbekistan.”
Mr. Rapoza sees a heavy economic angle to Putin’s Asian trips, noting how:
“Of interest to the market is whether Putin and Jinping are in clear agreement about a Russian proposal to include China within the trade orbit of the Eurasian Economic Union. The EEU is a five member trade union between a number of ex-Soviet states, including Kazakhstan and Belarus.”
The author then goes on to analyze that:
“China may be interested in affiliating if they can use it to export its oversupply, assuming those frontier markets are interested in importing Chinese coal, cars and steal. Russia, on the other hand, is looking to befriend China as the U.S. continues to chastise it militarily in the South China Sea.”
Vladimir Mikheev, RBTH weekly analytical “Troika report” commentator (studio guest); Yuri Tavrovsky, professor at the Peoples’ Friendship University of Russia and Rajeev Sharma, independent expert, commented on the issue.