Through June, trade between Russia and China was worth $39.78 billion. Russian exports increased 29.3 percent to $20.34 billion, while Chinese exports to Russia were up 22.2 percent to $19.44 billion.
In 2016, trade between Moscow and Beijing grew only 2.2 percent to $69.52 billion. The countries have set a goal to boost trade to $200 billion by 2020.
In July, the Russian Direct Investment Fund and the China Development Bank (CDB) agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion). It was created to make settlements in ruble and yuan easier.
Both Moscow and Beijing have repeatedly talked about the importance of payments in local currencies for bilateral trade.
The agreement was signed at a meeting between Russian President Vladimir Putin and Chinese President Xi Jinping, while he was in Russia on an official visit.
The countries are also jointly building the Power of Siberia gas pipeline, and a liquefied natural gas (LNG) facility on the Yamal Peninsula in the Russian Arctic. Over the past year, Russia has overtaken Saudi Arabia as China's top oil supplier.
China is building a new transport corridor to Europe as part of the Belt and Road Initiative (also known as the New Silk Road), which goes through Kazakhstan and Russia to Europe.
Trade growth both ways, nearly equal payment flows each way, energy sold outside of any dollar hegemony, more liquefied natural gas on the market with Qatar stating an aim to substantially increase production/export, possibly in response to actions of its neighbors backed by whoever, and a new Silk Road to replace that of Ross Ulbricht, aka Dread Pirate Roberts, or referring back to Marco Polo, or a bit of both presumably with containerized shipping. Shipping of whatever, you name it, and shipping might be an improper usage, in context.
Central Asia being essential in the planning and with no mention of the Indian subcontinent. With that New Silk Road it may be easier for North Korea to ship plutonium hither and yon, although care likely is taken to size individual shipments properly, not too large and too close together. And it is likely a supplier's market. A high demand commodity at a guess.
What might the Saudis think, and what might the near equal balance of payments along with the Saudi reference imply for your continuing price at the gas pump? And for Tesla?