China and Russia Officially Sign $400 Billion Gas Bill

The deal that I believe begins the geopolitical shift away from the United States, has officially been signed. For more details the background of this deal, check out my post here.

From the Washington Post:

With the stroke of a pen, Russia significantly shifted its economic relations with its neighbors, creating a major new export market to the east and reducing its reliance on European customers at a time when its relations with the West are at their lowest point since the Cold War…

…The 30-year deal was announced after meetings in Shanghai between Putin and Chinese President Xi Jinping. It is worth an estimated $400 billion, Alexei Miller, chief executive of the Russian energy giant Gazprom, told Russian reporters…

…The deal marked a new partnership between two countries that have at times mistrusted each other but have also sought to counter U.S. influence in global affairs…

…The deal will involve developing natural gas fields in Russia and building pipelines from Russia to China. The cost of building the infrastructure alone is expected to top $70 billion, said Mikhail Krutikhin, an energy and oil analyst at RusEnergy, a Moscow think tank…

Source

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