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19 January 2018 23:14 (South Africa)

Russia, China sign $3.5 billion deal

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

wen putin

Russia and China signed agreements worth $3.5 billion, but were still working out the details of a mega-energy deal. The handshakes came when Russian Prime Minister Vladimir Putin was in the Middle Kingdom to give a boost to energy, political and military ties. The agreements include $500 million loans each from two Chinese banks to counterpart Russian institutions. Chinese investments in construction industry plants in Russia are also part of the plan. However, talks are continuing in the energy sector. This is expected to be a gas-for-loans deal similar to a $25 billion oil-for-loans deal already concluded. Russia's cash-strapped energy companies need Chinese funding, while Beijing has welcomed the chance to further diversify sources for energy needed to fuel its fast-growing economy.

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

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