Chinese-Russian trade is skyrocketing

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STORY: Newly-released customs data suggests that international trade between Russia and China is continuing to skyrocket, highlighting how increasingly tight their relationship has become, as their relationships with Western powers crumble and Russia's economy particularly grapples with the West's sanctions.

China's exports to Russia jumped nearly 20% in January and February compared to the same period a year ago, a surge to a total worth $15 billion dollars.

Meanwhile China's imports of Russian goods increased by over 31% at the same time. That's $18 billion.

It includes Russian oil. China is Russia's biggest buyer of oil and sales are expected to hit a new record this month.

China's trade with Russia already hit a record high last year.

On Tuesday China's new foreign minister, Qin Gang, said that the more turbulent the world becomes, the more that Sino-Russian relations must move forward.

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