In a major geopolitical and energy shift, Russian President Vladimir Putin and Chinese President Xi Jinping announced a deal to build the “Power of Siberia-2” pipeline, delivering 50 bcm of gas annually via Mongolia to China. Gazprom hailed it as the world’s most ambitious gas project, alongside an 8 bcm expansion through existing routes. While pricing details remain unresolved, the deal cements China as Russia’s top energy buyer after Europe cut reliance, bolstering Moscow’s war economy and stunning the West.

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