Protectionism, trade wars motivate Russia and China to step up cooperation — Rosneft head

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Rosneft CEO Igor Sechin

Rosneft CEO Igor Sechin


© Mikhail Metzel/TASS

BEIJING, November 29. /TASS/. The current international conditions, increasing protectionism and threat of trade wars serve as additional incentives for developing economic cooperation between Russia and China, head of Russia’s major oil company Rosneft Igor Sechin said on Thursday.

“Certain aspects of the current political conditions in the world, increasing protectionism and threat of trade wars in the world economy serve as additional incentives to cooperate more closely and make decisions faster,” Sechin said at the opening ceremony of the Russian-Chinese Energy Forumin Beijing.

“In many ways, Russia ties prospects for increasing economic growth to advancing development of eastern territories and development of natural resources there. China, in turn, is interested in ensuring its energy security and reliable supply channels,” Sechin said. “High level of connections between our energy infrastructures is a guarantee of strategic stability in bilateral relations, a factor of energy security for both partners, a reassurance of high level of mutual trust,” he added.

The 1st Russian-Chinese Energy Forum is held in Beijing. Around 300 representatives of Russian and Chinese energy companies take part in the event. In the framework of the forum, several roundtable meetings will be held on topics of coal and electric power, as well as oil and gas.

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