Cutting out Europe and the US, Russia hands over oil and gas projects to China!

Hello and welcome to Deepin Moments:In this video, Elizabeth discusses the dynamic shifts in the global energy market, where Russia is strategically diversifying its oil and gas projects towards China, bypassing Western markets. As the United States aggressively targets the European energy market with its LNG exports, Russia faces increased competition. This video explores how the United States has gained a foothold in the European energy market, capitalizing on its abundant shale gas resources and reducing Europe’s dependence on external energy sources. Russia, despite facing sanctions and tariffs, maintains its energy exports and expands collaborations with China. Recent developments, including the Belt and Road Initiative and a deepening strategic partnership between Russia and China, are changing the energy landscape. Russia is actively strengthening ties with the Asian market, especially China, as the “Look East“ strategy becomes a necessity. The two nations have issued a “Joint Statement on Deepening the Comprehensive Strategic Partnership in the New Era,“ outlining their energy cooperation plans. Russia’s increasing influence in the Chinese crude oil market is evident, as it vies with Saudi Arabia for the top supplier position. Investment cooperation and technological collaboration between Russia and China are also on the horizon, further reshaping the global energy dynamics.