A prominent Russian media personality and ally of President Vladimir Putin has raised concerns about Russia’s increasing reliance on China, suggesting it may pose risks for the nation.
Following Putin’s invasion of Ukraine in 2022, many international brands departed from Russia, leading to an unparalleled set of Western sanctions. This has caused Russia’s economy to pivot significantly towards China, especially leaning on Chinese imports like electrical gear, vehicles, and automotive parts, while also depending on China to buy Russian oil and natural gas.
On a recent episode of *Evening with Vladimir Solovyov*, the host, Vladimir Solovyov shared insights from his visit to Russian troops at the front lines.
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Solovyov pointed out a significant need for “large quantities of electric scooters, motorbikes, motorcycles, and buggies” rather than just tanks and personnel carriers. He questioned, “How much of this do we produce ourselves? Are we essentially relying on China as our motherland now?” He also expressed frustration regarding the situation, stating, “We are oversaturated—with what? We are oversaturated with China.”
The influx of inexpensive Chinese products has prompted various governments, including those of the U.S. and EU, to take protective measures due to worries about market saturation stemming from China’s domestic overproduction.
Solovyov cautioned that Russia’s relationship with its “no-limits” ally, China, could become problematic if the two countries’ objectives start to differ. He posed a hypothetical scenario: “What if the Chinese decide to comply with sanctions and stop supplying us with cars and drone parts? What would we do then?”
Complaints have arisen among Russian traders about delays and rejections of cross-border transactions in 2024, as Chinese banks cautiously navigate U.S. secondary sanctions aimed at products that could assist the invasion. Reports indicate that as much as 98% of transactions through Chinese banks are being declined in yuan.
“The sovereignty of our economy is crucial,” noted Russian parliament member Alexander Babakov, a guest on the program. “We should appreciate that the Chinese haven’t completely overwhelmed our market, given their rapid development compared to our slower pace.”