In the context of the turbulent global economy, the strengthening of mutually beneficial trade and economic ties, as well as the increase of investment flows between Russia and China, are of paramount importance,” Russian President Vladimir Putin said.

China and Russia have just signed a USD400 billion natural gas import deal. This deal “is a demonstration of the fact that Russia always has and always will have other options to develop relations elsewhere. The threat of isolation coming from the West will not be complete,” said Sergei Utkin, a Russian political. Both China and Russia are currently in an ailing relationship with US and other European countries in terms of political, economic, and military aspects.

“The US sanctions upgrade China’s importance to Russia as the one major economy in the world that is not susceptible to the US-led sanctions drive,” said Carnegie Moscow Centre director Dmitri Trenin.

China and Russia are currently holding a seven-day naval drill in the East China Sea. All in all, 16 warships, fighter planes and special forces will participate in the military drills. China has dispatched warships, submarines, special forces, as well as an Su-30 and F-10 fighters, while Russia sent six warships to participate.