Putin and Xi Jinping sign new cooperation pact amid Ukraine war

The world's media watched on intently on Wednesday as Russian President Vladimir Putin arrived in Beijing's imposing Great Hall of the People to put pen to paper on a new "cooperation" pact with his Chinese counterpart Xi Jinping.

The Kremlin has denied there is any link between the Russian leader's visit and that of US President Donald Trump just days before. But the timing has undoubtedly raised eyebrows, especially across Europe, where fears of being sidelined in global affairs have been mounting.

Here are the key takeaways for Europe from Putin's trip to China.

"Unyielding" ties

If Europe and the US hoped Beijing might be persuaded to reduce its support for Russia anytime soon, this trip will have offered little encouragement.

China has been providing Russia with economic, military and diplomatic support since Moscow launched its full-scale invasion of Ukraine in February 2022, and it has proved critical in enabling Putin to continue his war effort in spite of increasing losses to both personnel and equipment and rapidly rising costs.

The US and Europe had hoped that by splitting off Russia from Chinese aid, they may be able to bring about a change in the course of the war.

On Wednesday, however, that dream appeared all but over, as Putin and Xi signed a new joint statement on cooperation and heralded their "unyielding" bond.

The statement, which aims at deepening "good-neighborliness and friendly cooperation," also included an agreement to increase cooperation between their armed forces.

Beijing has generally sought to maintain a neutral position on Ukraine, but it will likely be invested in the outcome of the war and want its strategic ally to ultimately triumph.

It has been another warm reception for Putin in China, where he has been greeted by Xi as a "dear friend."

The Russian president touched down in China on Tuesday night, where he was met by Foreign Minister Wang Yi and a guard of honour, as well as youths waving Chinese and Russian flags and chanting, “Welcome, welcome, warmly welcome!”

Calls for Middle East conflict to end

Also on the agenda was the situation in Iran and the knock-on effect to global energy markets, which spiralled after Tehran made the decision to effectively close the Strait of Hormuz in response to Trump's military action in the country.

During their talks on Wednesday, Xi told Putin that any further fighting must be avoided and called for continued negotiations to broker a peace deal.

Ending the conflict would help ease disruption to energy markets and supply chains, Xi said, per state news agency Xinhua.

"I have put forward four propositions on safeguarding and promoting peace and stability in the Middle East to further build international consensus, and help deescalate the situation, end hostilities and promote peace," he added.

Oil markets fell slightly on Wednesday following reports that a number of tankers were moving through the Strait of Hormuz, but they still remain elevated.

Trump said earlier this week that he had instructed Secretary of War Pete Hegseth to call off a scheduled attack on Iran, but that he should be prepared "to go forward with a full, large scale assault of Iran" if they could not come to an "acceptable" peace deal.

No final details on major gas pipeline

The European Union has also sought to isolate Moscow by imposing sanctions designed to hurt Russia's energy, financial, technology and export markets, but China has continued to offer access to a major trading partner, allowing Russia to compensate for significant lost sales to Europe, particularly of gas.

For its part, Beijing wants to diversify its energy sources, keep prices down and avoid getting caught up in strategic maritime chokepoints.

One key deal yet to be finalised is the planned "Power of Siberia 2" gas pipeline, a 2,600-kilometre project that could send up to 50 billion cubic metres of gas annually to China if completed, providing a crucial source of income for the Kremlin.

Putin and Xi concluded their talks on Wednesday without offering details on a deal for the project, but a general agreement between the nations is believed to have been reached.