Putin Beijing Visit Sino Russian Ties

The visit signals deepening Sino-Russian energy and trade ties, with a concrete focus on the Power of Siberia 2 gas pipeline. This could increase Russian gas supply to China, potentially diverting LNG from global markets and affecting European gas prices. The push for rouble-yuan trade reduces USD dependency in energy transactions, impacting FX markets. The mechanism is regulatory/geopolitical cooperation, with supply_shortage potential for Europe if Russian gas is redirected. Impact is region-specific: China gains energy security, Russia secures a buyer, Europe faces tighter gas supply. Winners: Russian gas producers (Gazprom), Chinese importers. Losers: European gas buyers, US LNG exporters if China shifts away.