Putin-Xi Beijing Summit Concludes: 'Multipolar World' Declaration Signed, Sino-Russian Treaty Renewed, Power of Siberia 2 Advanced

The Putin-Xi bilateral summit in Beijing concluded on May 20, 2026 with a sweeping joint declaration committing both countries to 'establishing a multipolar world and new type of international relations.' The Treaty of Good-Neighbourliness and Friendly Cooperation (originally signed in 2001) was formally renewed for another 25 years. A package of bilateral economic and energy deals was signed, including progress on the Power of Siberia 2 natural gas pipeline through Mongolia to China — which Putin said was at 'a very advanced stage.' Bilateral trade between Russia and China reached ~$240 billion in 2025, with Q1 2026 up 20% year-on-year. Xi maintained China's 'neutral mediator' posture on Ukraine, declining to explicitly endorse Moscow's position while ignoring Western demands to stop exporting dual-use components to Russia's defense sector. Trump had reportedly been told by Xi that Putin would 'regret' the invasion — Trump publicly denied this. The summit came just four days after Trump's own meeting with Xi in China (May 14–15), underscoring Beijing's dual-track diplomacy. Analysts noted Putin's visit served his acute need for Chinese economic backing as Western sanctions bite deeper into Russia's war economy. The KSL Deyang shipping incident (Chinese cargo vessel struck by a Russian drone on May 18) created diplomatic awkwardness but neither side allowed it to disrupt the summit.