Summary
US experts predict that Russia’s increased dependence on China could result in a split between the two countries. There has been a growing discontent among the people about Russia that now their country is being considered a hanger of China.
Vladimir Putin and Xi Jinping
– Photo : Agency
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Expansion
Given the speed with which Western countries have imposed strict sanctions on Russia after the attack on Ukraine, many geopolitical experts have expressed the opinion that now Russia’s dependence on China will increase further. With this, both these countries will start adopting a similar stance in strategic matters. These experts have feared that due to China’s help, Russia may be successful in keeping the effect of sanctions low. In that case, China’s influence on Russian President Vladimir Putin will increase further.
China has consistently denied condemning the Russian attack on Ukraine. It has said it respects the sovereignty and territorial integrity of all countries, including Ukraine, but has criticized the imposition of sanctions on Russia. China has reiterated its stand in the statements of the Ministry of External Affairs as well as in the discussions of the United Nations.
Analysts have pointed out that in the midst of the ongoing crisis over Ukraine, China announced the removal of all limits on the removal of wheat from Russia. It also signed a 30-year agreement to buy natural gas from Russia. Energy purchase deals signed by these two countries have been kept out of the dollar-based international finance system. That is, China will pay in exchange for oil or gas in its currency Yuan.
Russian oil company Gazprom Neft announced last year that it would now accept China’s oil and gas price in Yunnan. Meanwhile, the fact has also come to the fore that Russia has become one of the major countries taking loans from Chinese financial institutions. He had taken debt of $151 billion from these institutions by 2017. According to analysts, after the Crimea War, when Western countries imposed sanctions on Russia for the first time in 2014, since then Russia had turned the direction of its economy towards China.
But US experts predict that Russia’s increased dependence on China could result in a split between the two countries. There has been a growing discontent among the people about Russia that now their country is being considered a hanger of China. Yun Sun, program director of the American think tank Stimson Center, has told the American website Axios.com that the more Russia’s economic dependence on China increases, the more anti-China sentiments will flourish in Russia.
Sun also expressed the opinion that China will not attach itself more than a border to the path Russia has now walked. He may have to pay the price for doing so. Sun said- ‘If increasing financial and economic relations with Russia starts costing China, then China will reconsider this relationship.’ In this connection, it has been mentioned that after Russia’s attack on Ukraine, two Chinese banks have stopped giving money in return for Russian exports.