Chinese President Xi Jinping, the
Russian leader Vladimir Putin, and
Indian PM Narendra Modi presenting a
united front at China's annual security
summit. Joining us now is Bloomberg's
Minman Low. Minman, welcome to the
program. Just walk us through what's
been happening over the past day or so.
Yeah, today uh Putin NC had a meeting
and it was one that came with a lot of
breakthroughs because the big uh deal
that was signed was between the gas prom
which is Russia's stateowned company and
China agreeing to build this power of
Siberia 2 pipeline which would help to
divert a lot of the gas pipeline sales
to Europe Europe to China instead and
that would help the company recoup about
30% of those uh gas pipeline uh that was
diverted that was you that used to be
sold to Europe to China. So and a very
important breakthrough because this was
something that has been under discussion
for many many years. Presidency and
China have been reluctant to sign onto
the deal because they didn't see it as
urgent to continue to step up gas
purchases from Russia. They didn't want
to over rely on Russia as well. And this
deal coming as President Trump has been
threatening more tariffs on China if it
continues to buy Russian oil.
Interestingly, we see the same thing
with Modi as well. uh Modi's uh India's
largest state-owned company, oil company
saying it will continue to buy every
single drop of Russian oil available as
long as it remains economical. really a
slap in the face for President Trump and
perhaps showing that Trump's additional
tariffs to punish India is in some ways
backfiring.