International Cooperation in the Russian Oil Industry against the Background of Dynamic Development of Trade between Russia and China

Abstract

The current state of the oil trade between Russia and China is analysed. The state of the Russian oil industry is characterized. Peculiarities of trade with oil and oil products between Russia and China are shown from the point of view of Chinese economic and political science. Separately the possibilities of development of international cooperation between the oil industry of Russia and the People’s Republic of China are characterized, especially in the context of the concept of “Economic zone of the New Silk Road”. It is suggested that the concept of “One zone, one road” (New Silk Road) will actively promote the development of trade relations and economic ties between Russia, China and CIS countries. It is noted that greater investment in the oil and gas sector of the Russian economy is promising for China. The author believes that the participation of the Chinese party in the production and processing of Russian oil will significantly increase economic relations between Russia and China in the oil industry. Modern Chinese researchers emphasize that China is interested not only to buy ready-made products in the Russian oil industry, but also to participate in the production and processing of Russian oil, and it reinforces the mutual interest of Russia and China in the development of this sector of the economy.

Keywords

• «экономический пояс нового шелкового пути»
• oil traid
• russian oil industry
• energy resources
• economics of china
• international cooperation
• concept of “new silk road”
• “economic zone of new silk road”