How China became the new master of Russia's economy

"Russia's goods exports to China have nearly doubled since February 2022, when Moscow's full-scale invasion began. In 2024, Russia shipped roughly $129 billion (111 billion) worth of goods to China the overwhelming majority in crude oil, coal and natural gas sold at steep discounts. The Centre for Research on Energy and Clean Air calculated that China has bought more than 319 billion ($372 billion) of Russian fossil fuels since the conflict began, giving Moscow vital hard currency to fund its military amid Western sanctions."

"In return, China exported nearly $116 billion worth of goods to Russia in 2024, supplying machinery, electronics and vehicles that replaced Western suppliers who exited the Russian market. Although Beijing has stopped short of direct exports to Russia of finished military hardware, China has supplied billions of dollars' worth of dual-use goods civilian products and technologies that also have military applications. These have also helped sustain Russia's defense industry."

"Western sanctions, imposed since 2022 and repeatedly tightened, have severed Russia's access to advanced Western technology. The United States, European Union, United Kingdom and allies banned exports of semiconductors, microelectronics, precision machine tools and other dual-use goods critic"

Russia’s partnership with China has grown increasingly one-sided as Western sanctions since 2022 have cut off access to advanced technology. Bilateral trade softened in the past year due to lower oil prices, but Russia’s exports to China have nearly doubled since the full-scale invasion. In 2024, Russia shipped about $129 billion in goods to China, mostly crude oil, coal, and natural gas sold at steep discounts. China has bought more than $319 billion of Russian fossil fuels since the conflict began, providing Russia hard currency for military spending. China exported about $116 billion in goods to Russia in 2024, including machinery, electronics, and vehicles, while also supplying billions in dual-use civilian technologies that support Russia’s defense industry. This imbalance leaves Russia more vulnerable to Chinese priorities as leaders prepare for talks in Beijing.

Read at www.dw.com