Russian President Vladimir Putin emphasized the strength of the Russia-China partnership in a message on Tuesday, celebrating the 75th anniversary of the People’s Republic of China.

Putin acknowledged the resilience of their economic relationship, noting that Moscow and Beijing have successfully increased trade volumes and implemented significant projects, despite global difficulties. “We set a high value on friendly, good-neighborly ties with Beijing,” the Russian leader was quoted by Tass as saying. He further shared:

Despite the challenging international situation, we have managed lately to achieve qualitative growth in trade volumes, implement many large-scale bilateral projects in different spheres.

Putin also highlighted the importance of cooperation between Russia and China in various multilateral organizations. Their “fruitful interaction” within bodies such as the United Nations, BRICS, and the Shanghai Cooperation Organization (SCO) demonstrates both nations’ commitment to advancing their global influence together. This collaboration in international frameworks underscores the strategic alignment between the two countries as they navigate a complex global landscape.

In July, the Russian leader underscored the significance of economic partnerships and the Shanghai Cooperation Organization’s contribution to sustaining global stability. He pointed to advancements in economic integration, citing a 37% rise in trade between Russia and SCO nations, reaching an unprecedented $263 billion in 2022. From January through April 2023, trade saw another 35% boost.

As translated by the Kremlin, Putin remarked: “We are making wider use of national currencies for mutual settlements. In particular, over 80% of commercial transactions between Russia and the People’s Republic of China are made in rubles and yuan.”

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