What We're Watching
Putin visits his pal in Beijing
FILE PHOTO: Russian President Vladimir Putin and Chinese President Xi Jinping walk during a meeting at the Kremlin in Moscow, Russia March 21, 2023.
Sputnik/Grigory Sysoyev/Kremlin via REUTERS
The message is clear: Russia and China stand together, and recent pressure on Beijing to rethink the partnership hasn’t worked. Not that anyone believed US and EU requests to limit the export of goods Russia might use in Ukraine went anywhere but the circular file.
Peek under the hood of the Putin-Xi partnership, however, and you’ll see the gears could use some grease. For instance, Putin would like Xi to commit to the Power of Siberia 2 gas pipeline, which would help him deal with Western sanctions. Xi has historically been less enthusiastic about the project (he’s already getting Russian gas at a steep discount, after all).
There’s also North Korea, which has grown considerably closer to Moscow after the invasion of Ukraine. China isn’t thrilled to see Russia butting in on what it considers its sphere of influence but has taken a soft approach thus far. In January, Putin accepted an invitation from Supreme Leader Kim Jong Un to visit, and we’re watching for a stop in Pyongyang, which would likely tweak Xi. Even if it doesn’t happen this time around, Eurasia Group analyst Jeremy Chan says “it's highly likely that Putin will visit North Korea by the end of 2024.”
Of all the threats to the world, what are the top 10 most urgent global risks for 2026? On Monday, January 5, at 12 pm ET, join us for a livestream discussion with Ian Bremmer and global experts to discuss the Top Risks of 2025 report from Eurasia Group. This report will mark twenty years of Ian Bremmer’s annual forecast of the political risks that are most likely to play out over the year. Event link: gzeromedia.com/toprisks
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