Russian President Vladimir Putin concluded a three‑day state visit to China with a flurry of agreements covering trade, education, technology and nuclear security, yet the much‑anticipated Power of Siberia 2 gas pipeline remained unresolved. Both leaders highlighted an “unyielding” partnership and pledged deeper cooperation, but the absence of a concrete deal on the pipeline underscores a shift in the balance of the Sino‑Russian relationship.

The Power of Siberia 2 project, intended to channel up to 50 billion cubic metres of Russian natural gas to China via Mongolia, was discussed extensively but left without a definitive timetable. Kremlin spokesman Dmitry Peskov indicated that while the two sides share a common understanding of the venture’s key parameters, “some nuances remain to be ironed out.” Disagreements over pricing, financing and delivery schedules have stalled progress, and Beijing refrained from mentioning the project in President Xi Jinping’s remarks on energy cooperation.

Despite the setback, Moscow and Beijing signed more than 40 agreements spanning commerce, scientific exchange, and security. The two countries also agreed to expand joint military exercises, air and maritime patrols, and affirmed mutual support on geopolitical issues such as Taiwan and Ukraine. China, now Russia’s largest trading partner, still accounts for a modest share of Beijing’s overall trade, reflecting an asymmetrical economic relationship that favors the Asian giant.

Analysts note that the failed pipeline talks may signal Beijing’s growing leverage as Russia’s traditional European gas markets shrink following the Ukraine conflict. With the United States and Europe curtailing Russian energy imports, Moscow is keen to redirect supplies to China, while Beijing appears cautious about over‑reliance on a single supplier. The visit, which followed a similarly high‑profile trip by the U.S. president, demonstrated China’s desire to project itself as a central diplomatic hub, offering comparable receptions to both leaders but with distinct entourages reflecting their respective priorities.