Follow us on:   

“The Chinese drank quite a bit of our blood”- Putin
May 24, 2014, 8:10 am

Putin met with Vice President of China Li Yuanchao on the sidelines of the St Petersburg International Economic Forum [PPIO]

Putin met with Vice President of China Li Yuanchao on the sidelines of the St Petersburg International Economic Forum [PPIO]

Russian President Vladimir Putin has said the Chinese “drank quite a bit of Russian blood” during the negotiations for some key deals signed during Putin’s visit to Shanghai this week.

Putin called the Chinese “serious negotiators” but “reliable partners” who drove a hard bargain during Putin’s two-day visit which over saw the signing of a raft of cooperative agreements between the two sides including a mammoth $400 billion gas deal.

“I must give your Government colleagues their due and say that they drank quite a bit of our blood during the negotiations. The Chinese are very serious negotiators. But they are also reliable partners who seek to reach agreement, listen to their counteragents, listen to their friends, work towards compromise and find it, and this is extremely important,” Russian President Vladimir Putin told the Chinese Vice President Li Yuanchao on Friday.

Putin held talks with Yuanchao on the sidelines of the St Petersburg International Economic Forum. The Russian President acknowledged the growing clout of China in the world economy saying the Chinese government’s position on key development issues is of “considerable importance for everyone who is following closely the global economy’s development”.

He also noted that his Chinese counterpart Xi Jinping made personal interventions to ensure the smooth passage of the Sino-Russian deals.

“I am very grateful of course to President of the People’s Republic of China and my friend Mr. Xi Jinping, who took personal interest in all of the issues discussed during our negotiations. I think that were it not for his personal intervention on some key issues in our talks we probably would not have arrived at the decisions we did,” Putin said.

Moscow will now deliver upto 38 billion cubic meters (bcm) a year to the world’s top energy user, China.

Although no official price has been announced, sources say it is around an average price of $387 per thousand cubic meters.

With this deal, Russia has secured a key energy partner even as it battles US and EU sanctions over the Ukraine crisis.

 

TBP

 

 

2 Responses to “The Chinese drank quite a bit of our blood”- Putin

  1. Mats G. Reply

    May 24, 2014 at 11:52 am

    The China gas deal is politically very important but economically it’s far from being profitable neither for Gazprom nor Russia. The deal will not save Russia from the already miserable and still worsening economic situation. It will take years and $50 Billion worth of investments before the gas starts to flow in the pipelines. It will take at least a decade before Gazprom can expect to gain profits from its Chinese gas operation. Yes, it is a historical deal in many ways but it doesn’t help Russia one bit in the battle over EU/US sanctions or in the current crisis in Ukraine.

  2. NH Reply

    May 26, 2014 at 12:52 am

    is this about Natural Gas or about Petrol (gas)?

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.