MOSCOW: The trade between China and Russia has grown from around $40 billion to $90 billion in the past six years, however, Russian President Putin said that their target is to enhance trade $200 billion by 2020.
As the Western sanctions has been blocking Russian access to European and US capital markets, as Russia’s trade with the European Union in 2012 totaled around $340 billion, China, Russia agreed to expand their trade volumes in coming years.
Experts were of the view that this opportunity for China to leverage Russia’s political problems with the West and pin down long-term oil and gas contracts at knock-down prices, is very important.
