“Yuan will be main trade currency”: Putin turns Russian Federation into a raw material colony of China – FT

A Kremlin source told Western media that the current economic logic of the Kremlin-Beijing debate is that Russia is turning into China’s raw material extension.

The Western press has begun to summarize the early results of Chinese leader Xi Jinping’s visit to Moscow, and has already described the talks between the Kremlin and Beijing as emphasizing Russia’s role as China’s “junior partner”. This was reported by the Financial Times.

According to a source close to the Kremlin, the logic of the ongoing economic debate between China and Russia is based on the Russian Federation’s transformation into a raw material extension of China.

“The logic of events shows that we have become a purely Chinese resource colony. Our servers will be from Huawei. We will be the main supplier of everything to China. They will take the power from Siberia. By the end of 2023, the Yuan will be our main trading currency,” he said.

Experts from the International Institute for Strategic Studies believe that the asymmetry in Russian-Chinese relations has intensified after the sanctions against the Russian Federation and that China can use Russia’s urgent need for energy buyers to its advantage.

“It’s hard to hide the fact that Russia is now a junior partner,” says Institute employee Maria Shagina.

A report released March 20 by analysts at the Institute for the Study of War said that Chinese leader Xi Jinping had less support than the Kremlin chief had expected during his March 20 meeting with Putin in Moscow. During the meeting between Putin and Xi Jinping, both leaders praised Sino-Russian ties, but expressed different visions about the scope of the future relationship.

ISW analysts also said that Chinese President Xi Jinping is not quite ready to unite with Russian President Vladimir Putin in his fight against the West.

Source: Focus

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