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Reuters
Reuters
Business
Vladimir Soldatkin and Chen Aizhu

Putin hails $117.5 billion of China deals as Russia squares off with West

Russian President Vladimir Putin attends a meeting with Chinese President Xi Jinping in Beijing, China February 4, 2022. Sputnik/Aleksey Druzhinin/Kremlin via REUTERS

President Vladimir Putin unveiled new Russian oil and gas deals with China worth an estimated $117.5 billion on Friday, promising to ramp up Russia's Far East exports at a time of heightened tension with European customers over Ukraine.

Russia, already Beijing's No. 3 gas supplier, has been strengthening ties with China, the world's biggest energy consumer, reducing its dependence on its traditional European energy customers.

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