Russia plans to increase its trade with China to $ 200 billion by 2024

The Russian foreign ministry said it expects cargo flows with China to grow and trade with Beijing to reach $ 200 billion by 2024, as Moscow turns east in the face of growing Western isolation.

The ministry added that Chinese companies should be wary of the risks of secondary sanctions, indicating Beijing is ready to expand cooperation with Moscow, Reuters said, citing Interfax news agency.

China, which did not condemn the Russian attack on Ukraine and criticized Western sanctions, defended Moscow, calling Russia an “important member” of the G20.

China is Russia’s most important trading partner, accounting for 13.4% of Russia’s total exports, based on data from Integrated World Trade Solutions (WITS), a World Bank trade program.

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