Trade turnover between Russia and China experienced a notable decline in the first ten months of 2025, reaching a total volume of US$183.24 billion. This figure represents a decrease of approximately 9.5% compared with the corresponding period in 2024, signaling a moderation in the rapid trade expansion seen in previous years. This downturn is attributed to a complex mix of factors, including the global economic slowdown, and the implementation of Western-led secondary sanctions aimed at companies facilitating trade with Russia.
The drop was particularly pronounced in Russian exports to China, which largely consist of crude oil, natural gas, and coal. While the official data does not fully break down the reasons, the decline reflects both price volatility in global commodity markets and difficulties in payment processing. Western pressure on Chinese financial institutions has led several major banks to tighten compliance checks and, in some cases, suspend transactions with Russian entities, creating logistical bottlenecks for Chinese importers.Despite the short-term dip, the leaders of both nations remain committed to achieving their long-term goal of $300 billion in bilateral trade by 2030. Both countries are actively working to mitigate the impact of external pressure by expanding the use of national currencies (the ruble and yuan) for trade settlements and developing alternative cross-border financial messaging systems to bypass Western payment networks.
