The main negotiations are underway right now in the context of Trump's "10-12 days" deadline. And these talks are not with Russia.

The United States and China have been discussing a trade agreement for two days. The talks are taking place in Stockholm. China is represented by Vice Premier He Lifeng, and the United States by Treasury Secretary Scott Bessent.

One of the central topics is China's purchase of Russian oil. These negotiations, in particular, will determine Trump's further secondary sanctions and China's attitude to the Russian-Ukrainian war.

They will also open a window for further geopolitical issues between the US and China. The choice for Beijing will be difficult – either to enrich itself with the West through trade, or to fit in under an inadequate Putin – with unclear consequences for itself and the world.

And I would not rush to conclusions about China's position. On the one hand, a war-weakened Russia is in China's direct interest. But, on the other hand, it was China's access to Western markets that once became the main engine of the Chinese economy. And it will not be easy for China to give up this engine either .

Addendum: US, China agree to 90-day extension of trade truce in Stockholm.

So, the geopolitical bargaining between Trump and Xi will continue. The issue of ending the Russian-Ukrainian war is one of the key.

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