Mishustin Visits China; Trade Falls, Eight Deals Signed

Russian Prime Minister Mikhail Mishustin is on a two-day visit to China, meeting Premier Li Qiang in Hangzhou and President Xi Jinping in Beijing to deepen economic, technological and energy cooperation amid Western pressure and sanctions. The Kremlin said it attached “very great” importance to the visit as Moscow and Beijing seek closer alignment to counter Western pressure. Delegations signed eight agreements covering humanitarian cooperation, customs, measures to prevent illegal cross-border movement of nuclear materials and a 2026–2030 satellite-navigation roadmap, and trade settlements have shifted largely into yuan and other national currencies. Despite deepening ties, bilateral trade fell about 9.4% in the first nine months of 2025 — the first annual decline since 2022 — a drop attributed to sanctions, weak Chinese demand and market saturation of Chinese goods. Major energy projects like the proposed Power of Siberia 2 have advanced but face lingering pricing questions.