Relationship between Russia and China at its best, claims CEO of Russia’s ‘Sovereign Fund’

Moscow : “China has become a very important strategic partner for Russia. Currently the relationship between Russia and China is at the best level in our history,” said Kirill Dmitriev, CEO of the Sovereign Fund of the Russian Government. Six months ago, the Russian Government had clarified that the bilateral relations between Russia and US were in their worst period since the end of the Cold War. On this background, such a statement from a senior official of the Russian Government on their relations with China is noteworthy.

In the last few years there have been clear indications of Russia’s growing closeness with China at an international level. The primary reason for this closeness between the two countries is the opposition to American dominance and influence internationally. It is seen that after the US and Europe imposed sanctions on Russia over its annexation of Crimea in 2014, the relationship between two countries has grown even closer.

In order to recover its economy, Russia has started to expand its cooperation with China that includes fuel, technology, space research, currency, financial investment and trade. In the last few years, trade deals and other cooperation agreements worth one thousand billion dollars have been signed between the two countries. At the same time, at an international level, China is cooperating with Russia on the issues of Syria, Iran and Afghanistan.

While commenting on the growing closeness between Russia and China, Kirill Dmitriev mentioned the partnerships that have been formed between the two countries’ for ‘Investment Fund’ as well as for the manufacturing of electric cars. While the Russian official spoke about the relations with China, in response, China too apprised them of the new co-operation projects.

China’s Ministry of Commerce has announced that two countries will step up efforts to build the sea trade route called ‘Ice Silk Road’. In July, in a meeting with Chinese President Jinping, both the countries agreed on ‘Ice Silk Road’ that will pass through the Arctic region. It is claimed that because of this project the travel time for trade between China and Europe via sea will reduce by seven days.