China and Russia have vowed ever closer economic ties despite disapproval from the West that promised to support Ukraine in its war with Russia.

Amid the West's continuous attempts to economically isolate Russia over Ukraine, China's President Xi Jinping and Russian Prime Minister Mikhail Mishustin met in Beijing on Wednesday and announced that Russia-China trade was at an "all-time high."

Business Insider reported that it seemed a subtle reminder to the West of its failure to economically isolate Russia.

(Photo : DMITRY ASTAKHOV/POOL/AFP via Getty Images)
This pool photograph distributed by Russian state owned agency Sputnik shows Russian Prime Minister Mikhail Mishustin and Chinese President Xi Jinping shaking hands prior to their meeting in Beijing on December 20, 2023.

China Strengthening Its Ties With Russia

During his meeting with Mishustin, Xi vowed to further strengthen China's ties with Russia as the bilateral trade between the two countries surpassed the annual $200 billion set by the leaders of both nations in just 11 months.

Xi noted that maintaining and developing China-Russia ties is a strategic choice made by both countries "based on the fundamental interests of the two peoples," Xinhua reported.

The Chinese president added that both countries should continuously augment the "positive effects of high-level political ties" and deepen cooperation in economy, trade, energy, and other fields.

Mishustin, who started a two-day visit to China on Tuesday, said the two successful meetings between Xi and Russian President Vladimir Putin this year have demonstrated that the two countries are both willing to deepen their comprehensive strategic deal of coordination and that Russia will continue to work with China to seriously implement the critical consensus reached by the two leaders.

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The West Economically Isolating Russia

Amid the West's efforts to economically isolate Russia, particularly after the Russian invasion of Ukraine in February 2022, China has played a crucial role in supporting the Russian economy. 

As the world's second-largest economy, China has continued to trade with Russia, purchasing significant quantities of Russian oil and gas while supplying consumer goods like cars and various technologies. 

The economic collaboration has contributed to Russia's resilience in the face of Western sanctions and increasing global oil prices. The profits also allow Russia to massively boost its military spending as it seeks to break down Ukraine's defenses.

However, it is not all good news for Russia economically, as it still faces challenges, with sanctions leading to soaring inflation and a shortage of workers.

Russia's inflation problem even resulted in the soaring of egg prices earlier this month, which prompted Vladimir Putin to issue a rare apology. The United States sees Russia as its biggest nation-state threat and China as its biggest competitor.

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