Trade between China and Russia is at its highest level since the start of the Ukraine war

China’s General Administration of Customs data showed Thursday that bilateral trade volume between China and Russia rose in June to the highest level since the start of the Ukraine war, at a time when the two neighbors said their relations had reached a new high.

According to the data, the value of bilateral trade rose to $20.83 billion in June, the highest level since February 2022, despite slowing global demand and increasing geopolitical risks.

China’s imports from Russia rose 15.7% to $11.28 billion, compared with a 10% increase in May. China buys oil, coal and some minerals from Russia at discount prices.

Inbound shipments to Russia rose 90.9% last month to a total of $9.55 billion, down from 114% in May.

According to the data analysis agency Autostat, 6 of the top 10 brands in terms of market share in Russia’s auto industry are Chinese companies, such as Havel, Chery and Geely, which have filled the void created by the withdrawal of Western companies. .

On Monday, Chinese President Xi Jinping pledged to continue working with Russia to develop a comprehensive strategic partnership of cooperation.

The Kremlin said on Wednesday that President Vladimir Putin’s visit to China is on the agenda, adding that this is the right time to maintain good relations between the two countries.

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