Putin's visit to Beijing underscores China’s economic and diplomatic support for Russia

FILE - Chinese President Xi Jinping, right, and Russian President Vladimir Putin pose for a photo prior to their talks in Beijing, China, Friday, Feb. 4, 2022. Russian President Putin is expected to meet this week with Chinese leaders in Beijing on a visit that underscores Chinas economic and diplomatic support for Moscow during its war in Ukraine.

The Russian leader will be among the highest profile guests at a gathering marking the 10th anniversary of Xi's announcement of the policy, which has laden countries such as Zambia and Sri Lanka with heavy debt after they signed contracts with Chinese companies to build roads, airports and other public works they could not otherwise afford.

“One of the main areas is financial relations and creating further incentives for payments in national currencies,” Putin said. “The volume is growing rapidly, there are good prospects in high-tech areas, in the energy sector.” “It’s the major market for Russian commodities, it’s a country that provides its currency and payment system to settle Russia’s trade with the outside world — with China itself, but also with many other countries, and is also the major source of sophisticated technological imports, including dual use goods that go into the Russian military machine.”

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