Watch: Beyond the guest list—what Russia and China really want from each other

Published on 20/05/2026 - 9:20 GMT+2

To spot past the authoritative agenda, you conscionable person to look astatine the impermanent list. When the US president visited, helium brought tech and concern executives. Putin’s monolithic delegation, however, includes 5 lawman premier ministers, 8 ministers, determination governors, and the caput of Russia’s cardinal bank.

For Russia, China has go a captious economical lifeline. With bilateral commercialized topping 200 cardinal dollars for 3 consecutive years, Moscow is structurally babelike connected Beijing for concern machinery, electronics, and cars.

With large Russian banks chopped disconnected from Western fiscal systems, commercialized settlements successful Chinese Yuan person exploded from little than 2% successful 2022 to astir 30 to 40% of Russia's full trade.

Beijing, connected the different hand, is buying grounds amounts of discounted Russian oil, implicit 100 cardinal tonnes a year. At the aforesaid time, Xi is pushing for a monolithic caller state pipeline, the Power of Siberia 2. The maths is simple: the Chinese person wants inexpensive Russian earthy materials, but helium cannot hazard Western penalties blocking Chinese exports to invaluable European markets.

However, it is worthy looking who other was connected the plane. Notably, Kirill Dmitriev, caput of Russia’s Direct Investment Fund and Kremlin's cardinal negotiator with Washington, hoping to leverage China’s diplomatic value to upwind down the penetration of Ukraine.

For Beijing, it is each astir the Taiwan Card. By showing Washington however adjacent it tin get to Moscow, China is pressuring Trump to bounds US multi-billion-dollar arms income to Taiwan.

Putin and Xi person met much than 40 times and openly telephone each different aged friends. If Europe is conscionable waiting for these 2 to retire, determination is atrocious news. Last year, a blistery mic caught them discussing surviving till 150.

Maybe that volition beryllium conscionable capable clip for Europe to yet determine connected its stance; and if not, to larn Mandarin.

Watch the Euronews video successful the subordinate supra for the afloat story.