Trade exchange between China and Russia recorded $85.2 billion in four months economy

Bilateral trade between Russia and China recorded strong growth during the first four months of 2026, an indication that the economic partnership between the two countries continues to deepen despite the geopolitical challenges and Western sanctions imposed on Moscow.

The Chinese Ambassador to Russia, Zhang Hanhui, said during the St. Petersburg International Economic Forum that the volume of trade exchange between the two countries reached $85.2 billion during the period from January to April 2026, an increase of 19.7% compared to the same period last year.

He added that economic relations between the two countries continue to grow under the leadership of Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, noting that the two sides are working to implement the updated version of the investment protection agreement, enhance the business environment and facilitate the movement of individuals and communication between the business community in the two countries.

Senior partner

China has become Russia’s largest trading partner since 2014, but the importance of the economic relationship between the two sides has been further strengthened after the Russian-Ukrainian war and Western sanctions on Moscow.

China’s share of Russia’s total foreign trade rose from 11.3% in 2014 to 33.8% in 2024, reflecting the accelerating shift in the direction of Russian trade towards Asian markets.

In contrast, Russia advanced from thirteenth to seventh place among China’s largest trading partners during the period between 2020 and 2024.

Oil drives the relationship

Energy remains the main driver of economic relations between the two countries, as Russian oil exports to China rose to more than 108 million tons during 2024, an increase of nearly 30% compared to 2022.

Despite the decline in quantities to about 100 million tons during the year 2025, Russian oil still represents about 17.4% of China’s total oil imports.

The value of China’s imports of Russian oil amounted to about $62.26 billion in 2024, recording an increase of 54% compared to 2021.

Moscow and Beijing seek to expand cooperation in the fields of investment, technology, infrastructure and financial services, as the two countries seek to reduce dependence on Western financial systems and enhance commercial transactions in local currencies.

The continued growth in trade exchange between the two countries reflects the accelerating restructuring of global economic relations, with China becoming Russia’s most important economic partner at a stage in which the importance of Asian markets to the Russian economy is increasing.