Russia risks 'becoming an economic colony of China,' CIA director says
Russian President Vladimir Putin and Chinese President Xi Jinping arrive for a signing ceremony at the Kremlin in Moscow, Russia March 21, 2023.
Grigory Sysoyev | Sputnik | Reuters
Russia's reliance on China as one of its key remaining allies is growing amid its increasing isolation as a result of its invasion of Ukraine. Because of that, Moscow risks becoming something of an economic dependent on Beijing, the director of the CIA said.
"Russia is becoming more and more dependent on China and, in some respects, runs the risk of becoming an economic colony of China over time, dependent for export of energy resources and raw materials," CIA director WIlliam Burns said while delivering remarks at Rice University in Houston.
China's yuan has already become much more prominent in Russian markets. According to Russia's central bank, Russians purchased 41.9 billion rubles worth of the Chinese currency in March. That's more than three times the 11.6 billion rubles worth of yuan bought in February, the bank said.
During Chinese premier Xi Jinping's state visit to Russia in March, he and Russian President Vladimir Putin pledged to continue their close friendship, while Western countries warned Beijing against supplying weapons to Moscow. So far, there has been no indication that China has done such a thing, U.S. officials say.
Trade overall between Russia and China jumped by 29.3% to $190 billion in 2022, up from $147 billion the year prior, according to Chinese customs figures cited by the
South China Morning Post.
— Natasha Turak
