Putin failed to achieve the main result of negotiations in Beijing - intelligence
Kyiv • UNN
Putin failed to reach an agreement with China on the Power of Siberia-2 pipeline despite price reductions. The Foreign Intelligence Service of Ukraine reports a drop in trade turnover and a lack of new investments.
Putin visited Beijing for the second time this year, but failed to achieve the main goal of the negotiations with China – agreements on the "Power of Siberia-2" gas pipeline. This was reported by the Foreign Intelligence Service of Ukraine, according to UNN.
Details
The SZRU noted that this was Putin's 25th visit to China during his presidency and the fifth since the start of the full-scale war against Ukraine.
According to intelligence data, the "Power of Siberia-2" gas pipeline project, which is key for Moscow and has been under discussion for over ten years, once again remained without final agreements.
The main thing for which Moscow has been dragging out negotiations for years, the "Power of Siberia-2" gas pipeline, is once again hanging in the air
The intelligence service recalled that the project was supposed to increase Russian gas supplies to China to 100 billion cubic meters per year. At the same time, Kremlin spokesperson Dmitry Peskov explained the lack of results by citing "uncoordinated nuances."
Despite this, the parties signed 42 documents, but most of them are of a declarative or framework nature.
The SZRU pointed out that the Russian side once again voiced old figures regarding joint investment projects with the PRC.
There are currently 89 projects worth over $200 billion in the bilateral intergovernmental commission. In reality, about $20 billion has been financed over the entire period – ten times less
The intelligence service also stated that during the visit, Moscow asked Beijing for AI chips and funding for transport projects to Iran and Afghanistan, and just before the trip, it lowered the gas price for China to a six-year low.
Putin came to Xi not as an equal, but as a petitioner
The service added that China continues to view Russia primarily as a source of cheap raw materials, energy resources, and transit infrastructure.
Separately, the SZRU drew attention to the decline in trade turnover between the RF and the PRC. According to intelligence data, in 2025, the volume of trade between the countries decreased by approximately 6.5% in yuan and by 6.9% in dollar equivalent. Chinese exports to Russia fell by almost 10%, and imports of Russian raw materials by 3.4%.