TRADE AND ECONOMIC COOPERATION BETWEEN RUSSIA AND CHINA IN THE CONDITIONS OF WEST SANCTION PRESSURE

Abstract

The article is devoted to the problems and prospects for the development of trade and economic relations between Russia and China under the sanctions pressure of the West. The dynamics of trade between Russia and China, the commodity structure of Russian exports and imports are considered. It is emphasized that the growth of trade exchange between the two countries does not mean that Chinese companies refuse to trade with Western countries. By expanding trade with Russia, Chinese firms are interested in minimizing the risks of falling under secondary Western sanctions. Russia's intention to implement the policy of "pivot to the East" is proved. The ability of Russia, despite sanctions, to find markets for energy resources, to reorient Russian oil and gas supplies from the European to the Asian market, where China is the main buyer of Russian energy resources, is emphasized, purchasing Russian oil at low prices. The desire of Chinese companies in the conditions of leaving the Russian market of Western firms to occupy the vacated product niches is noted. The features of the development of investment cooperation between Russia and China are revealed. Emphasis is placed on reaching a qualitatively new level of economic interaction between the border regions of the two countries. It is concluded that Russia plans to expand economic cooperation with China in the future.