Signs of Disruption in China-Russia Economic Relations Amid US and EU Pressure

News Analysis Recent developments indicate that the economic relationship between China and Russia is experiencing significant strain. A crucial natural gas pipeline agreement between the two nations appears to have stalled, and the Industrial and Commercial Bank of China has halted the processing of Russian payments in yuan. Meanwhile, Alibaba has stopped accepting ruble payments or supplying goods to Russia. The setbacks come just 20 days after Russian President Vladimir Putin visited Beijing, dealing a substantial blow to his strategic plans, analysts say. Signs of strain were evident during Mr. Putin’s state visit last month. There was a visible moment of hesitation from Mr. Putin before he accepted an embrace from Chinese leader Xi Jinping, a moment that was highlighted and widely reported by media outlets worldwide, suggesting that Mr. Putin’s visit to Beijing may not have gone as planned. Further, a joint statement signed by the Russian and Chinese leaders during the visit significantly omits any mention of the two countries’ much-touted “no limits” partnership....