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BEIJING – Russian President Vladimir Putin will visit China this week on the invitation of leader Xi Jinping, Beijing’s foreign ministry said Tuesday.
Analysts say Russia is increasingly dependent on China as a crucial economic lifeline since the West hit it with unprecedented sanctions over its military offensive. Trade between China and Russia has boomed since the Ukraine invasion — which Beijing has never condemned — and hit $240 billion in 2023, according to Chinese customs figures.
“Chinese banks are concerned about reputational costs as they seek to forestall major sanctions,” Elizabeth Wishnick, a Senior Research Scientist at CNA, told AFP.
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