DHAKA: Chinese state media hailed the ‘huge potential’ of ties with Russia Wednesday after a US$85 billion oil deal, with analysts saying the cooperation masks Moscow’s unease at Beijing’s surging influence in Central Asia.

The framework arrangement between Rosneft, the world’s biggest listed crude oil producer, and Chinese oil giant Sinopec was announced during a visit by Russian prime minister Dmitry Medvedev, when around 20 agreements in various fields were signed.

Medvedev said in an online chat with Chinese internet users, ‘That means 100 million tonnes over the next decade, worth a total of US$85 billion’.

‘This is a large sum of money for any single country, even for China,’ he added, reports The Straits Times.

BDST: 1850 HRS, OCT 23, 2013
RoR/SRS