Russia and China open cross-border bridge as ties deepen | International Trade News

Moscow and Beijing hope new bridge linking Russian metropolis of Blagoveshchensk to Chinese language metropolis of Heihe will additional enhance commerce as Ukraine conflict hits provide stream.

Russia and China have opened a brand new cross-border bridge within the Far East that they hope will additional strengthen commerce as Moscow reels from sweeping Western sanctions imposed over its actions in Ukraine.

The bridge linking the Russian metropolis of Blagoveshchensk to the Chinese language metropolis of Heihe throughout the Amur River – identified in China because the Heilongjiang – is about 1km lengthy and price 19 billion roubles ($342m), the RIA information company reported on Friday.

Amid a fireworks show, freight vehicles from each ends crossed the two-lane bridge festooned with flags within the colors of each international locations, video footage of the opening confirmed.

Russian authorities stated the bridge would deliver Moscow and Beijing nearer collectively by boosting commerce after they introduced a “no limits” partnership in February, shortly earlier than President Vladimir Putin despatched his forces into Ukraine.

“In at this time’s divided world, the Blagoveshchensk-Heihe bridge between Russia and China carries a particular symbolic which means,” stated Yuri Trutnev, the Kremlin consultant within the Russian Far East.

China needs to deepen sensible cooperation with Russia in all areas, Chinese language Vice Premier Hu Chunhua stated on the opening.

Russia’s Minister of Transport Vitaly Savelyev stated the bridge would assist enhance bilateral annual commerce to a couple of million tonnes of products.

Slicing journey time

The bridge had been underneath development since 2016 and was accomplished in Might 2020, however its opening was delayed by cross-border COVID-19 restrictions, stated BTS-MOST, the agency constructing the bridge on the Russian aspect.

BTS-MOST stated freight site visitors on the bridge would shorten the journey distance of Chinese language items to western Russia by 1,500km (930 miles).

Automobiles crossing the bridge should pay a toll of 8,700 roubles ($150), a value that’s anticipated to drop as toll charges start to offset the price of development.

Russia stated in April it anticipated commodity flows with China to develop and commerce with Beijing to succeed in $200bn by 2024.

China is a serious purchaser of Russian pure assets and agricultural merchandise.

China has declined to sentence Russia’s actions in Ukraine and has criticised the Western sanctions on Moscow.

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