China’s trade with Russia grew at a double-digit pace in the first two months of 2023, Chinese customs data showed on March 7, 2023, Reuters reported.
The figures
Total trade between the two countries in January and February exceeded $33.68 billion, up 25.9% from a year earlier, according to China’s General Administration of Customs, as reported by Eurasia Business News.
China’s exports to Russia rose 19.8% to about $15.03 billion, while imports from Russia climbed 31.3% to almost $18.65 billion, driven largely by energy purchases.
“An increasingly turbulent world”
Beijing has said it should foster relations with its neighbour “in an increasingly turbulent world.” China has refused to condemn Russia’s invasion of Ukraine and opposes Western sanctions on Moscow, while presenting itself as neutral.
Filling the gap
China has become one of Russia’s most important economic partners since Western countries imposed sweeping sanctions after the February 2022 invasion. Chinese buyers have increased purchases of Russian oil, gas and coal, often at discounted prices, while Chinese cars, electronics and machinery have replaced many Western goods on the Russian market.
Trade between the two countries reached a record of about $190 billion in 2022. Western officials have warned Chinese companies against helping Russia evade sanctions or supplying its military.
Sources
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