Speaking at a press conference with BRICS media outlets on October 18, President Vladimir Putin said Russia has unlimited energy resources. He noted the importance of energy exports to China and described Russia as the most reliable supplier, RT reported.
President Putin pointed out that mutually beneficial cooperation between Moscow and Beijing is promoted by the fact that the two countries are neighbors and do not need to transport fuel and other goods by water.
“All borders are shared and energy resources in Russia are simply limitless,” Putin declared.
The President noted that China is very pleased to buy energy from Russia. Russia currently ranks fourth in terms of China's trade market share.
Vedomosti reported in July that Russia's trade turnover with China hit a record $65.2 billion in the first half of this year, with oil and gas exports hitting a new high, accounting for nearly 90 percent of exports.
In the first six months of 2024, China bought $50 billion worth of mineral oil and other petroleum products, compared with $47 billion in the same period last year.
Russia has the world's largest natural gas reserves and is the world's second-largest gas producer. It is also the third-largest oil producer, accounting for more than 12% of global output, and its share of enriched uranium is estimated at 40%. Russia is among the top 10 nickel producers and the world's third-largest titanium producer.
