Kremlin says Putin, Xi to discuss hydrocarbons as Russian oil exports to China jump 35%

Energy cooperation, including hydrocarbons and gas supplies, will be among the key issues to be discussed by Russian President Vladimir Putin and his Chinese counterpart Xi Jinping during Putin’s upcoming visit to Beijing, Kremlin foreign policy aide Yury Ushakov said Monday.

Speaking at a press briefing in Moscow, Ushakov said cooperation in the hydrocarbon sector would be discussed in detail with the participation of officials directly involved in related projects.

“Details will not be announced now, but this topic, I believe, will be discussed very thoroughly between the leaders with the participation of the direct representatives involved in all these projects,” he said.

According to Ushakov, Russian oil supplies to China increased by more than one-third in the first quarter of this year.

“In the first quarter of the current year, our oil supplies to Chinese consumers increased by more than 35 percent, reaching 31 million tons,” he said. “Russia is also one of the largest exporters of natural gas to China, including liquefied gas.”

Ushakov also confirmed that the proposed Power of Siberia 2 gas pipeline would be on the agenda during the Putin-Xi talks.

“This topic will be discussed in great detail, it is on the agenda,” he said.

The Kremlin aide described energy cooperation as the main driver of bilateral economic ties, particularly amid tensions in the Middle East.

“The locomotive of economic cooperation is our partnership in the energy sphere. Against the backdrop of the crisis in the Middle East, Russia continues to maintain its role as a reliable supplier, while China remains a responsible consumer of energy resources,” he said.

Ushakov further said Russia-China trade turnover reached nearly $240 billion in 2025 and continued to diversify.

“In 2025, trade turnover reached almost $240 billion, and its structure expanded, including through goods with high added value,” he stated. “Russia and China are important trading partners for each other.”

According to Ushakov, the transition to settlements in national currencies helped shield bilateral trade from external pressure and instability in global markets.

“The growth of mutual trade was certainly facilitated by the coordinated steps taken in Russia and China to switch settlements between our countries to national currencies,” he said.

“In essence, we have built a stable system of mutual trade that is protected from the influence of third countries and negative trends on global markets,” he added.

Ushakov also confirmed that Putin will attend the Shanghai Cooperation Organization (SCO) summit in Bishkek on Aug. 31-Sept. 1 and the BRICS summit in New Delhi on Sept. 12-13.

“Of course, we continue active cooperation within the Shanghai Cooperation Organization and together will celebrate the 25th anniversary of the SCO this year,” Ushakov said.

Commenting on contacts with the US, Ushakov said visits by Russian ministers to the US were useful but did not signal a breakthrough in bilateral relations.

He also said the Russian government approved the participation of a delegation headed by Labor Minister Anton Kotyakov at a conference on the rights of persons with disabilities scheduled to take place in the US in June.