China-Russia trade inches up as US sanctions and payment issues strain growth
https://www.scmp.com/economy/global-economy/article/3279018/china-russia-trade-inches-us-sanctions-and-payment-issues-strain-growth
One prominent example, they said, can be found in Russia’s auto imports from China. These had surged over the past year – as Chinese manufacturers sought a market for their products out of the reach of Western tariffs and trade restrictions – but signs of weakness began to appear in October following Moscow’s increases to vehicle import taxes and recycling fees, as well as the devaluation of the rouble.
The segment’s decline was enough to drag the total trade turnover of both nations down to US$34.68 billion in the same period for a year-on-year decrease of 7.1 per cent. By comparison, China and Russia’s total trade broke annual records in 2024 with US$244.8 billion in turnover, spurred by Western sanctions over Moscow’s invasion of Ukraine in February 2022.