RUSSIAN PRESIDENT PRAISED GROWING ECONOMIC TIES WITH NATURAL ALLY - TopicsExpress

RUSSIAN PRESIDENT PRAISED GROWING ECONOMIC TIES WITH NATURAL ALLY BEIJING ------------------------------------------------ Russian President praised growing economic ties with natural ally Beijing as he hosted Chinese premier for high-profile talks. Lis three-day visit to Russia comes as the Kremlin is locked in a battle of wills with the West over Ukraine and is seeking to ramp up cooperation with Asia and Latin America. Li and Putin spoke after Russian and Chinese officials on Monday signed dozens of deals ranging from energy to banking to cars. The two countries agreed to open a yuan-rouble swap line worth (US$24.5 billion) to reduce dependence on the US dollar and promote bilateral trade and investment. After a decade of tough negotiations, China and Russia inked a 30-year, US$400-billion agreement in May that will eventually involve Moscow supplying Beijing with 38 billion cubic meters of gas annually.

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