Politics of Russia

Russia-China gas deal worth USD 400 billion over 30 years

SHANGHAI -- Russia’s Gazprom and China’s CNPC have agreed on a deal on natural gas supplies to China, Itar-Tass is reporting.

The document was signed on Wednesday in the presence of Russian President Vladimir Putin and Chinese leader Xi Jinping.

Russia and China have marked "substantial progress" in talks over a deal which would secure one-fourth of China's gas supplies, Kremlin officials told Russian media.

Negotiations come as Russian President Vladimir Putin is on a visit to China for an international forum, but is also meeting Xi Jingping and explore ways to boost cooperation.

Russia and China "close to reaching gas deal"

MOSCOW -- Russia sees its relations with China as a priority, President Vladimir Putin has said ahead of his visit to Shanghai.

According to him, the two countries are close to reaching an agreement on natural gas sales.

Russian President Vladimir Putin has ordered that 40 000 soldiers pull back from the border with Ukraine, the country's Defense Minister Sergei Shoigu reported.

Russian and Chinese officials are due to strike a deal on Tuesday allowing China to receive Russian gas worth USD 400 B over the next 30 years, a Russian daily reports.

The European Commission has made a new proposal that could prevent gas supplies from disruption in case of a prolonged Russian-Ukrainian standoff.

Its idea involves purchases of Russian gas by Europe's top consumers (which means leading companies) and storage of the resource into Ukraine's depots, according to Russian agency RIA Novosti.

Russian energy giant Gazprom says it will charge Ukraine USD 1.66 B in advance for the supply of gas in June.

Pavel Zavalny, who heads the organisation, told a EU-Russia gas forum in Brussels this week that Bosnia and Bulgaria will face energy difficulties if Russia stops the flow of gas to Ukraine, citing unpaid bills.

Russian President Vladimir Putin has flown to the Crimean Peninsula, which was absorded by Russia from Ukraine, as part of Victory Day celebrations.

It is the first time the President goes to Crimea after it became part of the Russian Federation following a local referendum.

Andrei Nesterenko, the Russian ambassador to Podgorica, said Montenegro's sanctions will not harm Russia, adding that relations between the two countries had always been friendly.

In March, Montenegro backed EU sanctions against 33 Ukrainian and Russian officials, some of them close to Russian President Vladimir Putin.