China and Russia strengthen economic and diplomatic ties.

China and Russia have agreed to increase cooperation in various economic and business areas, including expanding bilateral trade, using local currencies, and developing cross-border logistics infrastructure. The affirmation of economic cooperation comes as the US and its allies have sanctioned Russia over its invasion of Ukraine. China is already Russia's largest trading partner, and the two countries plan to significantly increase bilateral trade volume by 2030. The Russian statement said that they have compiled a package of 80 important and promising bilateral projects in various fields worth around $165 billion.