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Chinese President Xi Jinping’s visit to Russia has significant implications for the Russian economy.

According to Dewardric McNeal, managing director of Longview Global and a CNBC contributor, the visit is primarily focused on strengthening the economic relationship between the two countries.

China and Russia had a trade worth $190 billion in 2021, up 30% from the previous year.

Russia has benefited from this relationship by being able to weather sanctions, while China has been receiving secure and cheap energy resources.

However, McNeal warns that Russia’s economy is in dire straits, despite the numbers suggesting otherwise.

While the visit is not primarily focused on Ukraine, China has made a public showing of wanting to broker peace in the war-torn country through its 12-point plan.

However, McNeal says that this is not a near-term reality and the plan is dead on arrival until Russia withdraws from Ukraine.

China is aware of this, but the message is largely for the Chinese domestic audience and the global south who view the Ukraine war as a distraction from issues like climate change and global growth.

McNeal believes that the visit could potentially yield a significant economic lifeline for Russia to evade sanctions and increase its military aid.

The U.S.

will be closely watching the aftermath of the visit, while Europe looks to China as a way to end the war.

However, McNeal notes that the visit is unlikely to improve the relationship between China and the Western nations, which is already strained.

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