Putin Leaves Beijing With Deals but No Pipeline Win
Russian President Vladimir Putin departed Beijing Wednesday with a dense stack of bilateral agreements but no deal on the gas pipeline Moscow needs most, CNBC reported Thursday.
The visit produced more than 40 agreements spanning trade, education, technology, and nuclear security. Yet the absence of progress on the Power of Siberia 2 pipeline dominated the aftermath.
Pipeline Talks Collapse Again
The Power of Siberia 2 project would carry up to 50 billion cubic meters of natural gas annually from Russia to China via Mongolia. Moscow views the route as a vital alternative to the European markets it has largely lost since its 2022 invasion of Ukraine.
Despite both sides signing a legally binding memorandum to advance construction back in September 2025, negotiations remain stuck over pricing, financing terms, and delivery timelines. Russian presidential spokesperson Dmitry Peskov acknowledged that “some nuances remain to be ironed out,” with no target date confirmed.
Chinese President Xi Jinping called energy cooperation the “ballast stone” of the bilateral relationship. He made no specific mention of the pipeline.
Lyle Morris, senior fellow at the Asia Society Policy Institute, told CNBC the outcome was a significant humiliation for Moscow. Putin had signaled before the trip that a deal was close, Morris noted. Beijing may be “playing hardball” precisely because Russia has lost leverage with European gas flows severed, he added.
A Partnership Tilting Toward Beijing
The broader picture reveals a relationship increasingly skewed in China’s favour. Russia is one of Beijing’s top energy suppliers and ramped up oil shipments after Strait of Hormuz disruptions. Yet Moscow accounts for only around 4% of China’s total trade volume. Beijing holds the leverage.
The two sides nevertheless proclaimed their bonds “unyielding.” Xi said bilateral relations stand at their highest point in history. Both governments pledged to expand joint military exercises, air patrols, and maritime patrols.
Moscow also reaffirmed its backing for Beijing’s “One China” position on Taiwan. On Ukraine, China reiterated support for a diplomatic resolution while endorsing Russia’s territorial integrity.
The Trump Shadow in Beijing
Putin’s arrival came just days after former US President Donald Trump visited Beijing. Chinese officials extended a nearly identical diplomatic welcome to the Russian leader, a symmetry analysts noted was unlikely to be accidental.
Both Beijing and Moscow issued a joint rebuke of military strikes on third countries and efforts to destabilize sovereign governments, language widely read as a pointed reference to Washington.
The existing Power of Siberia 1 pipeline already delivers around 38 billion cubic meters of gas to China yearly. The sequel project, if ever completed, would nearly double that flow.
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