China and Russia demonstrate alliance amid US war with Iran

Russia is ready to help compensate for the energy deficit for China and other countries amid the crisis caused by the war with Iran, Russian Foreign Minister Sergey Lavrov said on Wednesday, UNN reports with reference to Newsweek.

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Lavrov, another high-ranking foreign official to visit Beijing in recent days, arrived on Tuesday for talks on the war in Ukraine and a range of issues central to Sino-Russian relations.

"Russia can certainly fill the resource deficit that has arisen in China and other countries interested in cooperating with us on an equal and mutually beneficial basis," Lavrov was quoted by Russian media as saying after meeting with Chinese leader Xi Jinping.

The visit comes amid a sharp rise in oil and gas prices worldwide in the nearly seven weeks since the start of US and Israeli strikes on Iran, exacerbated by Tehran's closure of the Strait of Hormuz and retaliatory attacks on energy infrastructure across the region.

China receives approximately 40% of its oil imports through the strait, which has been largely blocked since the conflict escalated. Beijing has pushed for a negotiated settlement and the reopening of the waterway, while joining Russia in vetoing a UN Security Council resolution that called for international military efforts to protect shipping. Both countries argued that the measure did not address what they consider to be the root causes of the war.

"Both sides will seize the trend of the times, fully implement the important consensus reached by the two heads of state, and elevate the comprehensive strategic partnership between China and Russia, coordination, and our mutually beneficial cooperation in various fields to a new level," Chinese Foreign Ministry spokesman Guo Jiakun said at a regular press briefing on Wednesday.

Xi said that China and Russia should strengthen strategic coordination to protect their common interests and the interests of developing countries, state broadcaster CCTV reported. He also called on both countries to demonstrate the responsibility of major powers and permanent members of the UN Security Council.

"Firmly uphold and practice multilateralism, and work together to revive the authority and vitality of the United Nations," Xi was quoted as saying. "Promote the development of the international order in a more just and reasonable direction."

Although China is relatively well protected from energy shocks due to diversified imports, large strategic reserves, and investments in renewable energy, prolonged disruptions could push it to greater reliance on Russian supplies, the publication writes.

This, it is noted, could strengthen the position of Kremlin head Vladimir Putin in negotiations on long-delayed projects such as the Power of Siberia-2 gas pipeline, which will supply up to 50 billion cubic meters of gas to China annually.

Current disruptions are also beneficial to Moscow, analysts say.

"In fact, one could say that the war is saving Russia from potential budget problems," Chris Weafer, executive director of Macro-Advisory consultancy, previously told Newsweek.

"It's a double positive hit, as the market price for oil and gas is much higher, and Russia doesn't have to offer discounts to Asian buyers who are nervous about sanctions and customs risks," he added.

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