Russia and China Forge a New Pole of Energy Stability in Eurasia
BEIJING, CHINA – ( ARAB NEWSWIRE ) -- The synthesis of Russian energy resources and Chinese technology is forming a new axis of the global economy, capable of withstanding external pressure and ensuring sustainable development. The key advantages of this strategic partnership are a significant reduction in dependence on the US dollar, competitive electricity prices, and colossal investments in the sector. Settlements between Russia and China have almost completely transitioned to national currencies. This creates financial independence for the partners. Furthermore, electricity for industry in both countries costs more than twice cheaper than in the United States. Russia and China are key investors in the global energy sector, accounting for about one-third of all global investments. At the same time, the global oil and gas industry is suffering from underinvestment, which creates risks for global supplies. Russia, possessing a unique resource base valued a...