Foreign Ministry Spokesperson Mao Ning Photo: Ministry of Foreign Affairs

Normal economic and trade cooperation between China and Russia on the basis of mutual respect, equality and mutual benefit should not be subject to interference or restrictions by any third party, Mao Ning, a spokesperson for China's Foreign Ministry, told a press conference on Tuesday.

Mao made the remarks when asked whether Chinese oil and gas giants CNOOC and China National Petroleum Corp had left Russia's Arctic LNG-2 project, after Russian media reported that foreign shareholders in a project controlled by Russia's Novatek, suspended the participation due to the West's sanctions on Russia. 

Mao noted that sanctions and pressure haven't proven to be solutions, but had instead caused a negative spillover effect. China has consistently opposed unilateral sanctions and long-arm jurisdiction that have no basis in international law and no mandate from the UN Security Council, she said.

"China and Russia will continue to engage in normal economic and trade cooperation in the spirit of mutual respect, equality and mutual benefit," she said.

The Arctic LNG-2 project is a landmark project for China-Russia energy cooperation.

According to the Xinhua News Agency, Chinese companies have participated in the Yamal liquefied natural gas project in Arctic Russia and the Arctic LNG-2 project, the two largest of the kind in Russia. 

China-Russia energy cooperation is the centerpiece of bilateral economic and trade ties in recent years.

Chinese Vice Premier Ding Xuexiang on December 15 called for enhanced high-quality energy cooperation with Russia at the 20th meeting of the China-Russia Energy Cooperation Committee, Xinhua reported.

Ding called on the two sides to consolidate energy trade and mutually beneficial cooperation, promote the construction and stable operation of oil and gas projects, and build nuclear energy projects with high standards and high quality.

The two sides should actively expand new areas and directions of energy cooperation, deepen cooperation on renewable energy, hydrogen energy, energy storage, smart energy and carbon market, and deepen integrated cooperation in the upper, middle and lower reaches of the energy sector, he said.

Trade between China and Russia grew steadily in the first 11 months of this year, hitting $218 billion, up 26.7 percent year-on-year and exceeding $200 billion for the first time, Chinese customs data showed.

The figure is a milestone for bilateral economic ties, as the two countries achieved their yearly $200 billion trade goal ahead of schedule. In 2019, they set a goal of ramping up bilateral trade to reach $200 billion by 2024. 

Global Times