Russia-China ties reach unprecedented depth, expanding strategic cooperation: Russian FM

Russian Foreign Minister Sergei Lavrov on Tuesday said that Russia-China relations have reached an unprecedented level of depth and strategic importance, as the two countries set fresh goals to expand cooperation across culture, education, and global affairs.

Speaking at an annual press conference in Moscow, Lavrov said that in 2025, the two countries achieved fruitful results in cooperation in multiple fields, setting new goals and areas for the development of the comprehensive strategic partnership of coordination for the new era.

People-to-people exchanges between China and Russia have been continuously strengthened, said Lavrov, noting that the China-Russia Years of Culture have concluded, during which hundreds of activities were held. The two heads of state also agreed to make 2026 and 2027 the Russia-China Years of Education.

Lavrov said the China-Russia mutual visa exemption has already reached record levels and continues to grow, providing additional impetus to cultural exchanges and business cooperation.

"Contacts in the cultural sphere and in all other areas will be facilitated by the current mutual visa-free policy. The number of such trips has already reached record levels. And I believe this trend will continue. Thus, we have rich cooperation in the people-to-people sphere, which organically complements our economic interactions, and our strategic partnership in the international arena, where China and Russia are a crucial stabilizing factor in international affairs, a factor whose importance is only growing in the current circumstances," said Lavrov.

Russia-China ties reach unprecedented depth, expanding strategic cooperation: Russian FM

Russia-China ties reach unprecedented depth, expanding strategic cooperation: Russian FM

Russia-China ties reach unprecedented depth, expanding strategic cooperation: Russian FM

Russia-China ties reach unprecedented depth, expanding strategic cooperation: Russian FM

The energy price shock triggered by tensions in the Middle East is weighing on German consumers and industry, placing further downward pressure on Europe's largest economy.

Sustained high oil and natural gas prices are expected to hit both Germany's economy and the global outlook, according to analysts.

"The economic outlook for Germany, and indeed for the global economy, depends crucially on the course of the conflict. This means that we will face a shortage of energy -- oil and gas -- for the foreseeable future, leading to sustained high energy prices. Naturally, this puts a strain on the German economy and also on the global economy," said Timo Wollmershauser, a researcher at the ifo Institute for Economic Research.

Escalating tensions in the Middle East are also denting German consumer confidence, as households grow more cautious about the economic outlook as energy bills climb, according to analysts.

"Germany is facing a major energy price shock. Rising oil prices are eroding real incomes across the country. People are noticing the impact at the pump, for example, and consequently have less money available for other expenses. As a result, consumption will be affected. Overall, this will weaken economic development in Germany," said Oliver Holtemoller, vice president of the Halle Institute for Economic Research.

As growing uncertainty undermines the confidence of German firms and financial markets, further clouding the prospects for an economic recovery, several German research institutes have revised down their projections for the country's future growth.

While the U.S.-Israel-Iran conflict continues, much attention is focusing on the severe disruption to shipping through the Strait of Hormuz -- a vital passageway which typically carries around one-quarter of global seaborne oil trade.

The current crisis along the Strait of Hormuz came as part of Iran's response to U.S.-Israeli operations, which saw it restricting navigation through the strait and targeting any vessels associated with the U.S. or Israel.

German industry, consumers affected amid Mideast energy shock