Economic and financial cooperation between China and Russia in the context of US and EU sanctions (2014-2024)

This paper examines the motives, development process, and global implications of economic and financial cooperation between China and Russia in the period from 2014 to 2024. Under the conditions of Western sanctions against Russia, it faced a blockage in the international market and in the financial system, while China, using its economic advantages, strengthened trade cooperation with Russia and promoted the introduction of a settlement mechanism in national currencies. Cooperation between China and Russia is based not only on economic complementarity and trade interests, but also reflects the strategic adaptation of the two countries to the changing global configuration of forces. This cooperation has a profound impact on the global financial system and contributes to the multipolarity of the global economy. Based on the theory of realism, this study analyzes the motives, development and impact of economic cooperation between China and Russia, examines the interaction of international sanctions and economic strategy, and explains how Sino-Russian cooperation affects the global financial system. The present study expands the application of the theory of realism in the field of international economic cooperation and the transformation of the global financial system. It also offers new theoretical perspectives for understanding the choice of economic strategies of states and the process of reconfiguration of the global financial system. The results of the study show that Sino-Russian cooperation not only weakens the impact of Western sanctions, but also contributes to the multipolar development of the global economy, deepening cooperation in various fields. As cooperation between the two countries expands, their strategic partnership strengthens, and coordination and interaction in international affairs become closer. In the future, China-Russia cooperation will move towards greater diversification and institutionalization, which will enhance the stability and influence of both countries in the global economic system.

China-Russia cooperation, Sino-Russian relations, Realism, Economic development, International cooperation, International relations, Trade and economic cooperation, Financial cooperation, Economic sanctions, Multipolarity