Russian-Chinese Trade and Economic Relations under International Sanctions Pressure

Abstract

Russia and China have a long-standing cooperation, determined by their geographical location and historical situation. Currently, Russian-Chinese cooperation has reached an unprecedented high level. Both countries, having established strong political mutual trust among themselves, are actively developing trade, economic, investment, scientific and technical relations. Modern Russian-Chinese relations are officially defined by the parties as relations of comprehensive partnership and strategic interaction, entering a new era. At the same time, both countries faced the negative impact of sanctions from Western countries. In light of recent socio-economic and political events, including the global COVID-19 pandemic, the aggravation of contradictions between Russia and the «global West» led by the United States, and the general deterioration of geopolitical relations between countries, sanctions have become a key instrument of international influence. Confrontation with the West has a decisive influence on the development of Russian-Chinese relations in almost all areas and contributes to greater rapprochement between Moscow and Beijing, which in turn opens up new opportunities for both countries. In this regard, it becomes relevant to analyze the impact of sanctions on relations between countries, including the consequences that they can have on further socio-economic, technological and political cooperation between the two states. The article examines trade and economic relations between Russia and China under international sanctions pressure in the period from 2020 to 2023. The dynamics and problems of economic relations in the field of trade and investment, directions and problems of implementing mutual trade and economic projects are shown.