(Bloomberg) -- Chinese leader Xi Jinping and Russian President Vladimir Putin met briefly in Beijing — a reminder of the tight relationship the two have developed since Moscow’s attack on Ukraine.

Xi welcomed Putin to the sitdown on Tuesday by calling him an “old friend.” He added that “China-Russia relations have withstood the test of changing international circumstances” and said they were a good example of “amicableness among neighbors, comprehensive strategic coordination and mutually beneficial cooperation.”

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Putin thanked Xi for “the warm welcome extended to our entire delegation.” “Our close interaction reflects the strategic nature of Russia–China relations, which are at an unprecedentedly high level,” the Russian leader added.

Shortly after the leaders’ meeting, Interfax reported that Alexey Miller, the chief executive officer of Russian gas giant Gazprom PJSC, said a deal had been reached on a long-discussed project that would take gas from fields that once served Europe and supply China instead.

Xi and Putin have pushed their nations closer together since Russia’s full invasion of Ukraine in early 2022. Xi is using a meeting of the Shanghai Cooperation Organization security bloc and a major military parade in the Chinese capital this week to tighten ties with Putin and other world leaders, especially Indian Prime Minister Narendra Modi.

That diplomatic push comes after US President Donald Trump has slapped nations around the world, including China and India, with tariffs on their exports.

The warm Beijing-Moscow ties have benefited both sides while Russia’s economy grapples with Western sanctions levied over its attack on Ukraine. Bilateral trade hit a new record of $245 billion in 2024, up 68% from 2021, according to Chinese customs data.

Putin is visiting Beijing for a major military parade that marks the 80th anniversary of World War II’s end. It is a return favor after Xi made a trip to Moscow earlier this year for a similar event remembering Russia’s triumph over the Nazis. Chinese troops took part in the May 9 parade on Red Square, forming the largest foreign contingent.

The two leaders have also aligned their messaging on World War II to enhance their nations’ contributions to the war effort, while downplaying that of the US. Putin said in his meeting on Tuesday with Xi that the decision to jointly celebrate the anniversaries of their countries’ victories had “special significance.”

“This is a tribute to the feat of our peoples — the peoples of Russia and China — during World War II, a confirmation of the key role of our countries in achieving victory in the European and Asian theaters of military operations, evidence of our common readiness to defend historical truth and justice,” Putin said.

Putin’s preferred version of history — widely derided outside of Russia — is that Ukraine is not a legitimate country and that Russians and Ukrainians are one people.

Putin also attended the SCO event in Tianjin, which is near Beijing, over the past two days. Xi used that to court his closest international allies. It comes at a time of heightened global tensions as Trump’s tariffs disrupt international trade flows and regional wars continue to flare.

Without naming any country, Xi called on the SCO to “oppose the Cold War mentality, bloc confrontation and bullying practices” — a veiled reference to what Beijing sees as the US’s strong-arm tactics in the trade war.

At the summit, Xi also secured an agreement from partner countries to set up a new development bank. While China gave no further details on the institution, the agreement marks a win for Beijing, which had sought to create such a bank since as early as 2010.

--With assistance from Yuliya Fedorinova.

(Updates with Gazprom deal and more context.)

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