Putin Attends China Summit Seeking Revival of Russia-China Trade Amid 8% Decline

Russian President Vladimir Putin is attending the Shanghai Cooperation Organisation summit in Tianjin, China, where he is promoting the concept of a multipolar world order amid declining Russia-China trade. After reaching a record $245 billion in 2024 due to China's support following Western sanctions over the Ukraine war, bilateral trade has fallen by 8.1% year-on-year in 2025, driven by decreased vehicle imports to Russia and reduced oil exports to China. Moscow is concerned about this trade decline and is exploring expansion in agriculture and energy sectors to revive economic ties with China. Putin's visit, which includes meetings with leaders from India, Turkey, Iran, and Pakistan, underscores the strategic partnership between Russia and China, particularly as both nations challenge U.S. dominance. The summit and the upcoming military parade in Beijing, which North Korean leader Kim Jong-un will also attend, highlight a growing alignment among Beijing, Moscow, and Pyongyang. The EU is simultaneously examining ways to utilize frozen Russian assets, reflecting ongoing international responses to the conflict in Ukraine.