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Russia Touts Deeper China Ties, Says Trade Now Mostly in Local Currencies and Treaty Renewal Ahead

Moscow's envoy in Beijing says sanctions pressure has deepened trust.

Overview

  • Igor Morgulov said Western measures have driven closer dialogue and higher mutual trust between Moscow and Beijing.
  • He said almost all bilateral trade now settles in local currencies, signaling reduced reliance on Western financial channels.
  • He cited operational steps including efficient communication links, more stable production and logistics chains, and reliable settlement mechanisms.
  • The Treaty of Good‑Neighborliness, Friendship and Cooperation is expected to be extended for another five years at its 25th anniversary next year.
  • Western governments accuse Chinese firms of supplying dual‑use items to Russia, allegations China denies, with targeted sanctions imposed on some entities.