Vladimir Putin left Beijing without the Power of Siberia 2 gas-pipeline breakthrough Moscow had sought, exposing a partnership tilting toward Beijing. Trump signalled he would speak directly with Taiwan’s Lai as he weighed a record $14bn arms package, risking the freshly stabilised US-China ties. Japan’s April exports surged 14.8% on semiconductors, lifting the Nikkei to a record. South Korea’s Samsung strike was averted, sending the KOSPI up 8.4%. India weighed RBI policy as Iran-peace hopes eased crude. Today’s Asia intelligence brief tracks six decisions converging on the Thursday tape.
01 · Russia-China — Putin Leaves Beijing Without Power of Siberia 2 Gas Deal
Russian President Vladimir Putin left Beijing Wednesday with declarations of enduring friendship and a stack of bilateral agreements, but without the Power of Siberia 2 gas-pipeline breakthrough Moscow had been eyeing — signalling a partnership increasingly tilting in Beijing’s favour. Putin and Xi Jinping failed to reach a deal Moscow had flagged would be “discussed in great detail.”The 2,600-kilometre pipeline would carry up to 50 billion cubic metres of gas annually from Russia’s Yamal fields to China via Mongolia. Moscow and Beijing signed a legally binding memorandum in September 2025, but pricing, financing, and delivery timelines remain unresolved. Russian spokesman Peskov said the sides reached an understanding on key parameters, but “some nuances” persist. The summit yielded 20 other trade and technology agreements. China imported 35% more Russian oil in Q1 than a year earlier, as the Hormuz disruption reshaped its supply — yet Moscow needs China more than China needs Moscow.
