Russia-China Pipeline Project Hits Snag Over Price Dispute

A long-awaited natural gas pipeline project between China and Russia has hit a roadblock. A meeting between the two countries' leaders on Monday failed to yield any progress on the deal.

Russia's President Vladimir Putin and Chinese President Xi Jinping have been pushing for the project, which is crucial for Moscow as it seeks to boost its energy exports. However, Beijing seems to be holding out for a better price, putting pressure on Russia to compromise.

The pipeline project has been in the works for years, with Russia hoping to export 50 billion cubic meters of gas per year to China through the Power of Siberia-2 line. The deal is expected to help Moscow reduce its reliance on European markets and bolster its energy ties with Asia.