Putin to Meet Xi Jinping in China Shortly After Commencing New Term

Fresh off the heels of commencing his new term, Russian President Vladimir Putin is gearing up for a visit to China, highlighting the deepening bond between the two nations. The trip, penciled in for May 15-16 according to a reliable source within the Kremlin, marks Putin's maiden voyage abroad following his re-inauguration on May 7. While the exact dates may undergo slight adjustments, the purpose remains clear: engaging in discussions with Chinese President Xi Jinping. Putin had hinted at a May visit earlier, without specifying details.

The Kremlin's spokesman, Dmitry Peskov, assured that the timing of the visit would be disclosed in due course. However, the Chinese Foreign Ministry remained tight-lipped during the holiday period. 

Putin's visit comes on the heels of Xi's anticipated tour to the European Union, including stops in France, Serbia, and Hungary, where discussions are likely to touch upon Russia's involvement in Ukraine. Despite China's official stance of non-support for Russia's actions in Ukraine, the bilateral relationship, characterized by an "unbounded" friendship, has provided Russia with a buffer against severe sanctions from the US and its allies. Trade between Moscow and Beijing has soared, hitting a record $240 billion in 2023, propelled by Russian oil exports and Chinese purchases of electronics, machinery, and automobiles.

However, amid the burgeoning economic ties, Chinese exports to Russia have faced a setback, declining nearly 16% in March compared to the previous year. Reports suggest Putin may address the issue of boosting trade during his talks with Xi. Moreover, Chinese state-owned banks have tightened funding restrictions on Russian clients following US sanctions, adding a layer of complexity to the economic dynamics.

Putin's upcoming visit to China follows his attendance at a Belt and Road forum in October, marking one of his rare foreign ventures since facing an arrest warrant for alleged war crimes issued by the International Criminal Court in March of the previous year. Having clinched another six-year term in a highly controlled election where he faced minimal competition, Putin continues to extend his influence over Russia.