Building an Economic Fortress: Russia and China Unite Against Sanctions

Russia and China are actively building an “economic fortress” to withstand Western pressure, a strategy detailed by President Vladimir Putin ahead of the SCO Summit. This approach is designed to create a self-sufficient economic bloc, insulated from what Putin calls “discriminatory sanctions.”
The foundations of this fortress are built on massive bilateral trade, which has surged by approximately $100 billion since 2021, and a robust energy partnership where China is the top importer of Russian oil and gas. These commercial ties ensure mutual economic security and resilience.
A key defensive wall of this fortress is the de-dollarization of their trade. Putin confirmed that nearly all transactions are now settled in rubles and yuan, creating a financial moat that protects their economies from the weaponization of the US dollar and associated financial systems.
Putin’s message to the SCO is an invitation to join in this effort. By working together to reduce trade barriers and invest in shared infrastructure, he believes the member states can collectively build an economic space that guarantees their sovereignty and fosters development, free from external coercion.