“The underlying message from the head of Russia’s biggest oil company, Rosneft, was clear: If Europe and the United States isolate Russia, Moscow will look East for new business, energy deals, military contracts and political alliances.”
Notwithstanding the current news , this started years ago.
In 2012, the company Transneft completed a $23 billion pipeline to transport oil to China and recently approved plans to expand it. Gazprom hopes to sign a long-term deal with China in May that will require it to build a gas pipeline costing some $50 billion.
Rosneft is developping its LNG projects focusing on Japan and China.
Moscow will also sign contracts on the sale of the Sukhoi Su-35 fighter to China.
http://rt.com/op-edge/russia-switches-to-brics-sanctions-357/
My understanding too....and Deal was struck weeks before Crimea as Putin no doubt anticipated the sanctions. China agreed to buy any oil lost from Ukraine in however they plays out....and this at market price.
I think Michele's trip is baloney.....it's to attempt to put China in a holding pattern til Obama gets his world tour done...They knew Putin is meeting with China in May. It's not been a secret.
IMO the Nation leaders are simply accommodating Obama but not exactly paying him much attention overall. Statement made at EC Brussels was stunning..” There are obvious crisis where USA will not be involved”.....they simply no longer see the USA as the leader on the World Stage.