Xi Jinping and Vladimir Putin pledge to develop even closer China-Russia ties in energy and finance

China and Russia vowed on Thursday to build even closer ties in their energy and finance sectors and extract more benefits from their partnership in other areas, underscoring their mutual dependence in the face of Western sanctions.

Both countries plan further cooperation in oil, natural gas, liquefied natural gas, coal, electricity and other fields “according to market principles”, according to a joint communique released after Chinese President Xi Jinping’s meeting with his Russian counterpart Vladimir Putin in Beijing.