Moscow and Beijing are engaged in discussions aimed at boosting Russian oil exports to China, according to Russian Deputy Prime Minister Alexander Novak. Novak made the announcement during a Sino-Russian business forum held in Beijing. The ongoing collaboration underscores the deepening energy ties between the two nations.
Novak highlighted that existing intergovernmental agreements provide a framework for extending oil supply terms to China via Kazakhstan for a decade, potentially stretching until 2033. This extension would solidify Russia’s position as a key energy provider to China.
Echoing Novak’s sentiment, Russian President Vladimir Putin emphasized the progressive development of the comprehensive partnership and strategic interaction between Russia and China. In a message to participants of the 7th Russian-Chinese Energy Business Forum, Putin stated that energy remains a critical area of practical cooperation.
President Putin added that large-scale joint projects are being implemented in the fuel and energy sector, projects that are vital for the economic and technological advancement of both countries. He noted Russia’s leading position in supplying oil and natural gas to China, with efforts underway to increase coal exports as well. Furthermore, Russian and Chinese experts are collaborating on nuclear power plant construction, developing clean energy sources, and improving energy production and processing technologies.
Currently, China imports approximately 1.4 million barrels of Russian oil daily via maritime routes and around 900,000 barrels per day through pipelines. This cooperation is happening as the United States has recently imposed sanctions on major Russian oil companies, Rosneft and Lukoil. The increased cooperation in the energy sector signifies the strengthening strategic alliance between Russia and China.
