Recently, there has been some heartburn in India over the ever-deepening relations between Russia and China. Much of it was sparked off by the visit of Russian Foreign Minister Sergei Lavrov to Beijing and the news of President Vladimir Putin's upcoming visit to Beijing in May. Putin had last visited China in October 2023.
Indeed, Sino-Russian relations are today galloping at an unprecedented speed. Bilateral trade between the two today stands at more than USD 240 billion. China is Russia's largest crude importer, sourcing 19 percent of its total crude oil imports from Russia.
Chinese cars occupied 49 percent of the Russian automobile market in 2023. From seafood to the fashion industry and tourism, ties are flourishing exponentially. And much of it taking place in local currencies, putting in motion what some call the "yuanisation" of the Russian economy.
The Chinese yuan was used for 34.5 percent of Russia's total export payments over the past two years, i.e., since Russia began its Ukraine operations.
China, which has announced itself to be "neutral" in the Ukraine conflict, has in essence sided with Russia.
Yet, chinks in the armour remain.

