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. Putin, while addressing a Press Conference in Beijing said that through the pipeline supply of gas & energy to China will be at half the rates to those at which supply is made to EU Nations. 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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