Putin Says Russia-China Trade Turnover Has Reached $240 Billion

Russian President Vladimir Putin said trade turnover between Russia and China has reached $240 billion, according to state news agency TASS, describing the figure as evidence of a deepening economic partnership between the two countries.

Putin noted that the trade volume between the two nations continues to grow, though he did not provide a detailed breakdown of the sectors driving the increase or specify the time period covered by the figure. Russia and China have expanded economic ties in recent years across energy, agriculture, and industrial goods, with Beijing becoming one of Moscow's largest trading partners.

Context of the Relationship

The two countries have repeatedly emphasized their strategic partnership in public statements, with Russian officials frequently citing rising trade figures as a marker of that relationship's strength. Energy exports, including oil and natural gas, have formed a significant share of Russia's exports to China in recent years, while Chinese manufactured goods, machinery, and vehicles have made up a large portion of imports into Russia.

Putin's remarks on the trade figure come amid continued Western sanctions on Russia over the war in Ukraine, which have pushed Moscow to deepen trade relationships with non-Western partners, China chief among them.

No additional comparative figures, such as year-on-year growth rates or a breakdown by commodity, were included in the reported remarks. The statement was presented as part of broader comments by the Russian leader on the state of bilateral economic relations.

Officials from both countries have previously set informal targets for bilateral trade growth, framing the relationship as a long-term strategic priority independent of shifts in the broader global economic and political environment.