Putin: the share of settlements in national currencies with China increased in the first quarter to 27.5%
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The leaders of Russia, China and Mongolia held a trilateral meeting in Samarkand. At the beginning of the meeting, Russian President Vladimir Putin said that in the first quarter of 2022, the share of settlements in national currencies in Russia’s trade with China increased to 27.5%, Vedomosti correspondent reports.
Putin emphasized the importance of expanding the joint transport and logistics infrastructure in order to increase the volume of cross-border cargo transportation: “Among the most important joint projects, I will mention the modernization of the Ulaanbaatar railway, which is an important artery for container traffic between Russia, Mongolia and China.”
According to Putin, the Naushki checkpoint on the Russian-Mongolian border will be reconstructed to increase transit capacity to 15 million tons of cargo by 2025. The President also stressed the importance of cooperation with China and Mongolia in the energy sector, in particular, the construction of the Soyuz Vostok gas pipeline from Russia to China through the territory of Mongolia.
According to Putin, this topic was discussed with the delegations of China and Mongolia at the Eastern Economic Forum a week ago. “Gazprom“is finalizing the details of the project with the Chinese and Mongolian sides,” the head of the Russian state added.
As Alexei Miller, Chairman of the Board of Gazprom, said earlier, this gas pipeline will be a continuation of the Russian gas pipeline Power of Siberia – 2. It will allow to supply up to 50 billion cubic meters. m of Russian gas per year to China.
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