Russia needs China as a market for its products, which is essentially energy and minerals. Those raw commodities underpin the Chinese sweatshop model of “produce cheap and swamp the world with your products”. But the Chinese engine is in serious trouble as the Western world starts to pull its producing businesses back or into other countries. You always need a potent market at the end of any business as its this market that pays for anything that comes before. And those markets have become a lot more twitchy to Chinese and Russian whims.
As Russia’s relationships with the West become increasingly fragile amid ongoing economic sanctions, Moscow continues to look towards China for economic opportunities — and energy is one space where that relationship is flourishing.