Page 86 - RusRPTApr23

the Ministry of Commerce and Industry of India, Russia for the first time in history has become one of the five largest trading partners of India - the volume of trade between the countries in 2022 reached $38.4bn, the Russian company said. "Thus, the goal set by the leaders of our countries to increase turnover to $30bn by 2025 has been achieved in advance," said the head of Rosneft Igor Sechin as quoted by the press service. Rosneft has been actively developing the integrated format for cooperation with Indian partners along the whole processing chain, from extraction to refining and oil product sales.
Evidence suggests Putin has not been able to secure no-limits bilateral partnership with China. Russian President Vladimir Putin and Chinese President Xi Jinping signed a joint statement on deepening partnership and strategic cooperation on March 21, which stressed that Russian–Chinese relations are "at the highest level in history." The Institute for the Study of War indicated in their latest report that the commitments made by Xi and Putin were "notably lopsided."
The trade turnover between Russia and China is set to reach $300bn in the next couple of years, Russian Security Council Deputy Head Dmitry Medvedev told viewers of the VKontakte social network on March 23. Medvedev said trade volume between the two countries was $8bn when he first visited China in 2000 as part of Vladimir Putin’s delegation. He noted that the current trade volume is $185bn and that it will most likely reach 300bn in the very near future. Previously Putin and Chinese President Xi Jinping had set a goal to reach $200bn by 2024, but following Xi’s two day visit to Moscow on March 20-21, Putin said the $200bn target will likely be reached this year. Medvedev also compared the trade turnover with the European Union, which was $400bn only quite recently. He pointed out that it has shrunk dramatically due to the "foolish decisions" made by the EU.
Trade turnover between Russia and China reached a record figure in 2022 despite the consequences of the pandemic and sanctions pressure, this year it will exceed $200bn, Russian President Vladimir Putin said speaking at the Russian-Chinese talks on March 21. "Despite the consequences of the pandemic and sanctions pressure, trade in 2022 reached a record high of $185bn. It is expected that this year Russia and China will not only reach the $200bn trade volume that we agreed with our friends a few
86 RUSSIA Country Report Russia April 2023 www.intellinews.com