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Putin lambasts trade sanctions on eve of visit to China
Published by Global Banking and Finance Review
Posted on August 29, 2025
3 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on August 29, 2025
3 min readLast updated: January 22, 2026
Putin criticizes Western sanctions before visiting China, emphasizing strong Russia-China trade relations amid global tensions.
By Ryan Woo
BEIJING (Reuters) -On the eve of a visit to China, Russian leader Vladimir Putin blasted Western sanctions as his country's economy teetered on the brink of recession, wounded by trade curbs and the cost of his war in Ukraine.
Russia and China jointly opposed "discriminatory" sanctions in global trade, Putin said in a written interview with China's official Xinhua news agency published on Saturday.
Putin will be in China, Russia's biggest trading partner, from Sunday to Wednesday in a four-day visit that the Kremlin has called "unprecedented."
The Russian leader will first attend the two-day summit of the Shanghai Cooperation Organisation (SCO) in the northern Chinese port city of Tianjin. The security-focused SCO, founded by a group of Eurasian nations in 2001, has expanded to 10 permanent members that now include Iran and India.
Putin will then travel to Beijing to hold talks with Chinese President Xi Jinping and attend a massive military parade in the Chinese capital commemorating the end of World War Two after Japan's formal surrender.
Earlier in May, Xi attended a military parade on Moscow's Red Square marking the 80th anniversary of the victory of the Soviet Union and its allies over Nazi Germany. It was Xi's 11th visit to China's giant neighbour since he became president more than a decade ago.
Russia has been hammered by multiple rounds of Western sanctions after its invasion of Ukraine in 2022. U.S. President Donald Trump said he might impose "massive" sanctions on Russia depending on whether progress was possible in his bid to secure a peace deal.
"To sum up, economic cooperation, trade and industrial collaboration between our countries are advancing across multiple areas," Putin said of China, which the West accuses of backing Russia's so-called special military operation in Ukraine.
"During my upcoming visit, we will certainly discuss further prospects for mutually beneficial cooperation and new steps to intensify it for the benefit of the peoples of Russia and China."
When Western nations severed ties with Russia after Moscow's launched its full-scale invasion of Ukraine in February 2022, China came to the rescue, buying Russian oil and selling goods from cars to electronics that pushed bilateral trade to a record $245 billion in 2024.
China was by far Russia's leading trading partner by volume and transactions between the countries were almost completely carried out in rubles and yuan, Putin said.
Russia was a leading exporter of oil and gas to China and the two sides continued joint efforts to reduce bilateral trade barriers, he added.
"In recent years, the export of pork and beef to China has been launched. Overall, agricultural and food products occupy a prominent place in Russia's exports to China," he said.
He made no mention of EU accusations of Chinese support for Russia's war in Ukraine, which the bloc describes as a serious threat to European security. China denies the allegations.
Putin and Xi declared a "no limits" strategic partnership in 2022. The two have met over 40 times in the past decade.
Wanted by the International Criminal Court over accusations of the war crime of illegally deporting hundreds of children from Ukraine, Putin last travelled in China in 2024.
(Reporting by Ryan Woo; Editing by Leslie Adler and Stephen Coates)
Putin criticized Western sanctions, stating they have severely impacted Russia's economy, which is on the brink of recession due to these trade curbs.
Putin's visit to China is significant as it marks a four-day trip where he will attend the Shanghai Cooperation Organisation summit and meet with President Xi Jinping to discuss economic cooperation.
China has supported Russia by purchasing oil and facilitating trade in rubles and yuan, effectively becoming Russia's largest trading partner.
Russia has recently begun exporting pork and beef to China, with agricultural and food products playing a prominent role in its exports.
Putin and Xi declared a 'no limits' strategic partnership in 2022, highlighting their close ties and frequent meetings over the past decade.
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