- let it flow May 21
China agreed today to a $400 billion deal to buy Russian natural gas over a 30-year period in what is being called a "financial and diplomatic boost" for Moscow. The contract, which was signed during Russian President Vladimir Putin's two-day trip to China, calls for Russia's state-controlled Gazprom to supply 38 billion cubic meters of gas annually to a Chinese-owned oil outlet.
Observers see the deal as a move by Putin to shift his country's commercial interests away from the United States and Europe as the West continues to sanction Russia over its invasion of the Crimean peninsula in February and other violations of Ukrainian sovereignty. Putin was greeted warmly by the Chinese and the two countries signed several other agreements.
An international relations expert called the deal "good news" for both countries. "The political requirements on both sides are so powerful they can overcome the concerns on price," said Shi Yinhong of Beijing's People's University. "This is a political action by both sides."- - Jordan Valinsky
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 10 things you need to know today: September 2, 2014
- What would a U.S.-Russia war look like?
- How American businessmen are ruining American business — and the U.S. economy
- Fall movie guide: All the films you should see in September
- Russia's giant spy ship was a high-tech disaster waiting to happen
- The Obama era is over. The presidency continues.
- America created the Islamic State of Iraq and Syria? Meet the ISIS 'truthers'
- Scottish independence is another financial crisis waiting to happen
- The 10 best networking tips for people who hate networking
- 11 scientific studies that will restore your faith in humanity
Subscribe to the Week