Russia and China had signed a long-term gas supply contract during de visit of Vladimir Putin to Beijing. The 30 year deal is worth $ 400 billion, according to Gazprom CEO Alexei Miller quoted by Russian media.
Putin considers the contract a “historic event”. “This is the biggest contract in terms of sale by volume to any one country in the sector’s entire history, whether the Soviet period or modern Russia”, he said.
The contract assures investments in infrastructures with Chinese money that Putin estimated in at least $ 20 billion during a press conference.
With this the Kremlin is saying to the West that Russia can survive with its Eastern partner despite the (mild) economic sanctions imposed after the Crimea annexation and because of the Ukrainian crisis.