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CWA # 2115, 24 May 2026
TWTW Note
The Putin-Xi Summit

  Aparna A Nair
Aparna A Nair is a research intern at the National Institute of Advanced Studies, Bengaluru.

What happened?
During 19-20 May, Russia’s President Putin visited Beijing, marking his 25th visit to the country. The talks were held in two rounds—a private meeting between the Presidents, followed by a large meeting with the delegation.

The meetings resulted in the following: An extension of the China-Russia Treaty of Good-Neighbourliness and Friendly Cooperation and a joint statement on “further strengthening” the comprehensive partnership and strategic cooperation between the countries were reached, along with a joint declaration on a multipolar world.

China’s Foreign Ministry stated that the joint declaration advocates for a multipolar world and a new type of international relations. 40 agreements have been reached on topics ranging from technology and trade to nuclear security and Taiwan. They also discussed the Middle East and called for a comprehensive ceasefire, emphasizing the importance of negotiation.

There was also a discussion on the Power of Siberia pipeline; Russia’s presidential press secretary said, "In general, there is an understanding of the main parameters for Power of Siberia 2. There is agreement on the route and the construction process,” and details like the timeline are yet to be worked out.

President Putin said: “Russia and China are committed to an independent and sovereign foreign policy, are working together in close strategic cooperation and playing an important stabilising role on the global stage.”

What is the background?
1. President Putin’s 25th visit and his 40 meetings with President Xi since 2013 
President Putin has visited Beijing 25 times throughout his tenure. Both presidents have met over 40 times a year through bilateral and multilateral forums since 2013. These meetings accelerated during the events of Russia’s invasion of Ukraine and US-China trade tensions. Through these meetings, both Presidents demonstrated a unified front against US dominance, a vision for a multipolar world, and strengthened cooperation. The two leaders framed their cooperation as a response to a contested, multipolar world and presented a joint declaration that explicitly advocates a multipolar international system and a “new type” of state-to-state relations. It positions itself as an alternative to Western-led institutions and norms.

2. Increasing interdependence
The diplomatic and economic isolation by the West made Russia more reliant on China. Beijing is now a crucial provider of trade, finance, and technology that helps Moscow mitigate the impact of sanctions. China benefits from Russian energy and raw materials. The summit announced 40 agreements, reflecting the transactional interdependence it created. In the first four months of 2026, total trade between the two countries exceeded USD 61 billion, marking a 14.8 percent increase year-on-year.

3. The Power of Siberia Pipeline
The Power of Siberia pipeline project is crucial for Russia as it monetizes the Arctic gas field and aids its economy, as they lost the European market due to the invasion of Ukraine. China's approval of the deal is the likely way out, since there is no alternative buyer in place. This situation favors China, as it holds leverage in the proceedings and increases Russia's dependence on it. In this way, the pipeline project is not just an energy project but a strategic instrument.

What does it mean?
First, the summit brought out the growing asymmetry. In the current circumstances, China is increasingly becoming dependent on itself for economic survival and diplomatic backing. While China and Russia frame their relationship as equal strategic cooperation, it favors Beijing.

Second, through the Power of Siberia 2 project, China can dictate terms as they possess diversified trade and energy supply chains. This structural dependence will result in the supply of discounted raw materials and energy while China gains geopolitical influence.

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