Russia, China Sign $400 Billion Gas Deal

After more than a decade of negotiations, Russia’s $400 billion deal to supply natural gas to China is tilting the world’s largest energy exporter toward Asia, as its ties worsen with the U.S. and Europe. Russian President Putin is turning eastward as sanctions imposed by the U.S. and the European Union batter the Russian economy.  Russia's increasing alienation from the U.S. and the E.U. makes its trade with China, the country’s largest trading partner (after the two-way trade volume surged sevenfold in the past decade to about $94 billion last year), even more important.

http://www.bloomberg.com/news/2014-05-21/russia-signs-china-gas-deal-after-decade-of-talks.html