Putin signs energy deals with China

Elbegdorj spoke highly of building a Mongolia-China-Russia economic corridor, adding that Mongolia wants to enhance cooperation on infrastructure and economic affairs along the border region.

A multibillion-dollar high-speed rail deal between China and Russia is expected to be signed during Russian president Vladimir Putin's visit to Beijing this week, when the two nations are expected to extend military cooperation.

Putin accused North Atlantic Treaty Organisation of ignoring Russia's call for closer cooperation, saying there was a need for a "modern off-bloc system of collective security that is equal for all states". "However, to eliminate obstacles, we have to build a joint community of fate, strengthen high-level policy coordination, and make long-term top-level plans for bilateral ties and regional cooperation", he said.

"Since we consider each other close allies, naturally, we always listen to our partners and take into account each other's interests", Putin said.

The two leaders had met just two days earlier at the SCO summit in Uzbekistan.

Xi Jinping said China and Russian Federation are major economies and emerging markets, adding that the two sides should integrate the Belt and Road Initiative and the Eurasian Economic Union for broader regional economic cooperation.

President Putin linked the results of the British referendum to the high concentration of power within the European Union structure.

Against the backdrop of sluggish global economic recovery, regional instability, rampant terrorist activities and environmental degradation, Putin said, "coordination between Russian Federation and China on the global stage is itself a stabilizing factor in worldwide affairs".

Talking about the two-day Shanghai Cooperation Organisation summit that begins on Thursday, Putin said the Summit has evolved into a platform for its members to carry out cooperation in multiple areas.

Others offered more strident views of the referendum's impact.

A number of energy deals have been secured between the two nations, including agreements on selling of stakes in several Russian projects to Chinese companies.

Overall China is increasing its presence in the Russian energy market, Putin said. Last December, Chinese company Sinopec bought a stake in the Russia's Sibur energy company.

Cooperation is also gaining momentum thanks to the Xi-proposed Belt and Road initiative, which aims to pursue common development along ancient trade routes linking Asia with Europe and Africa.

"The general development path in a global economy, as well as in our cooperation with China, should involve a gradual removal of all barriers to open collaboration", he said.

The government of Russian Federation and China have signed an agreement on joint implementation of long-haul widebody aircraft in Beijing today.

"As we know, President Xi Jinping has launched an initiative to revitalize the idea of the Great Silk Road", Putin said.