Russia, China Forge Closer Ties With New Economic, Financing Accords
Source: Wall Street Journal
Moscow turns to Asian investors to reduce reliance on Europe and the U.S. amid standoff over Ukraine
MOSCOW—Russia and China signed economic deals and a financing agreement for up to $25 billion for Russian companies from Chinese banks, as Moscow looks to seal closer ties with its southeastern neighbor given its standoff with the West.
President Vladimir Putin and his Chinese counterpart Xi Jinping oversaw the signing of an agreement here allowing domestic companies to raise funding from Chinese banks against guarantees provided by Moscow, which is cut off from global capital markets by Western sanctions. The two countries also signed a preliminary deal for Russia to supply gas via a pipeline to China, although key details remain to be resolved, as well as agreements in aviation and farming.
“Today, China is our key strategic partner,” Mr. Putin said, seated alongside Mr. Xi as the deals were signed.
Read more: http://www.wsj.com/articles/russia-china-forge-closer-ties-with-new-economic-financing-accords-1431099095
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