In this pool photo distributed by Russian state agency Sputnik, Russia’s President Vladimir Putin and China’s President Xi Jinping visit a photo exhibition on Russia-China relations in Beijing, May 20, 2026. (Photo by Alexander Kazakov/Pool/AFP via Getty Images)
Alexander Kazakov AFP | getty images
Russian President Vladimir Putin left Beijing on Wednesday with a declaration of enduring friendship with China and a number of bilateral agreements — but without the energy pipeline breakthrough Moscow was eyeing, a sign of the evolving geometry of a partnership that is increasingly tilting in Beijing’s favor.
Little progress on gas deal
The two leaders failed to reach a breakthrough on the Power of Siberia 2 pipeline, which had been flagged by Moscow.discussed in great detail“Since Russia’s gas exports to Europe have been substantially reduced following the invasion of Ukraine in 2022.
After the summit, Russian press secretary Dmitry Peskov said Beijing and Moscow had reached an understanding on key parameters of the venture, but “some nuances remain to be sorted out,” with no clear timeframe for the project, according to the news agency’s Google Translate. RIA NovostiReport in Russian.
While Chinese President Xi Jinping said energy cooperation should be a “cornerstone” in China-Russia relations, he made no mention of the pipeline.
“This is a major blow to Russia and Putin, who had signaled before the trip that a breakthrough would be in the works,” said Lyle Morris, senior fellow for China national security and foreign policy at the Asia Society Policy Institute.
Morris said Beijing is “playing hardball at a time when Russia has lost some leverage due to the EU cutting off some gas flows from Moscow.” “There’s no way to hide it: Putin was embarrassed by the lack of agreement on the pipeline.”
Moscow views the natural gas project as key to redirecting its gas exports from Europe to China, while Beijing is wary of becoming overly dependent on a single gas supplier. Russia has been one of China’s top energy suppliers and has increased its oil shipments to Beijing after flows through the Strait of Hormuz were severely disrupted.
The two sides had signed a legally binding memorandum of understanding to advance construction of the Power of Siberia 2 pipeline through September 2025, but negotiations stalled due to disagreements over pricing, financing terms and delivery timelines.
The long-delayed pipeline is estimated to carry 50 billion cubic meters of natural gas per year from Russia via Mongolia to China, based on the existing Power of Siberia 1 system, which delivers approximately 38 billion cubic meters of gas to China every year.
‘Indomitable’ bonds and deal making
Despite the failed gas deal, Beijing and Moscow signed a sweeping package of more than 40 deals on trade, education, technology, nuclear security among others, a sign of momentum in long-standing bilateral ties.
The leaders of both countries declared their “unshakable” bonds and promised to deepen “good-neighborly and friendly cooperation” with Xi. Appreciating that bilateral relations They were at “their highest level in history”.
China is Russia’s largest trading partner, although Moscow accounts for only 4% of Beijing’s total trade, making the relationship favorable to China.
China and Russia also agreed to deepen military trust and cooperation, including expanding joint exercises, air patrols and maritime patrols.
On Taiwan, Moscow reaffirmed its support for the “One China principle”, which views the island as part of Chinese territory and opposes any form of independence for Taiwan. On Ukraine, China said it would continue to favor a diplomatic solution to the conflict, while firmly supporting Russia’s sovereignty and territorial integrity.
Taking an indirect dig at Washington, both sides described military attacks on third countries, assassination of leaders of sovereign states and attempts to destabilize their domestic political environments as serious violations of international law.
The joint statement said such “external destructive interference” is the primary driver of instability across Eurasia.
a delicate act
Putin’s visit came on the heels of a visit by US President Donald Trump, in which Beijing gave almost the same welcome to the Russian leader: red carpets lining the street, waving flags and lines of children holding flowers.
Xi welcomed the two leaders in a ceremony filled with pomp and ritual outside the Great Hall of the People in central Beijing, which echoed a 21-gun salute at Tiananmen Square. While Trump arrived with a dozen business executives, including the CEOs of Apple, Tesla and Nvidia, Putin’s entourage largely consisted of deputy prime ministers, ministers and heads of state-backed oil and gas companies.
“It was a very delicate, nuanced stance to make sure there was a kind of parity in China’s relationship with both of those leaders,” Evan Medeiros, the Penner Family Chair in Asian Studies at Georgetown University, told CNBC. “The China Connection.”
For Xi, the back-to-back visits underlined his growing centrality in global events, Medeiros said. “Xi Jinping is clearly trying to establish China as an indispensable external power in international politics,” he said, referring to a number of leaders from European, Middle Eastern and African countries who have visited China in recent months.
“This is really China’s attempt to say that it is a leading power, if not the leading power in the world,” Medeiros said.
Compared to Trump, who was making his second visit to China, Putin has visited the country more than 20 times during his quarter-century in power.