Reproducing power through infrastructure: the development of Sino-Russian financial interdependence (2014–2024)

This article examines the emergence of Sino-Russian financial interdependence from 2014 to 2024, focusing on how infrastructure and economic networks have been used to reproduce power in the bilateral relationship. The study’s primary goal is to assess the extent to which Russia’s pivot to China has transformed economic ties into strategic dependency. Using an inductive, mixed-method approach, we combine descriptive data analysis with qualitative case evidence to trace the evolution of financial linkages—from banking and payment systems to energy deals and digital currencies. Our findings indicate that while financial integration between Russia and China deepened significantly (especially after Western sanctions in 2014 and 2022), this interdependence is asymmetrical. China’s dominant position in trade, investment, and technology has given it structural leverage, raising concerns that Russia’s growing reliance on Chinese capital and infrastructure may constrain Moscow’s economic sovereignty. The article situates these results in a geoeconomic framework, contributing to debates on ‘weaponized interdependence’ and great-power rivalry in the global financial order.