Russia and China are being driven together as the chasm with the West deepens
Chinese President Xi Jinping speaks with Russian President Vladimir Putin as leaders gather for a family photo during the Belt and Road Forum on Yanqi Lake, outside Beijing, China, May 15, 2017.
Damir Sagolj | Reuters
China and Russia are taking center stage this week as both countries look to deepen ties just as a chasm with the West, on a geopolitical and economic as well as military front, appears to be getting deeper, according to analysts.
A three-day state visit by Chinese President Xi Jinping to Moscow this week, which began Monday, was hailed by China and Russia’s presidents as the result of solid and cooperative relations between the two leaders and their respective nations, and comes after a determined drive over the last decade to strengthen diplomatic, defense and trade ties.
Ahead of the visit, President Vladimir Putin said in an article that “unlike some countries claiming hegemony and bringing discord to the global harmony, Russia and China are literally and figuratively building bridges” while his Chinese counterpart returned the favor, telling AFP he is “confident the visit will be fruitful and give new momentum to the healthy and stable development of Chinese-Russian relations.”
Xi’s visit to Moscow is something of a political coup for Russia given that it comes at a time when Russia has few high-powered friends left on the international stage, and little to show for its invasion of Ukraine.
Russian forces have made little tangible progress despite a year of fighting, and a largely isolated Moscow continues to labor under the weight of international sanctions. To add insult to injury, the International Criminal Court issued an arrest warrant for Putin on Friday, alleging that he is responsible for war crimes committed in Ukraine during the war.
Nonetheless, China and Russia have long shared similar geopolitical aims, such as a desire to see what they call a “multi-polar world” and the curbing of NATO’s military might, that unite them. And perhaps the most significant shared viewpoint of all is their mutual, long-standing distrust of the West.
A confluence of recent events — from the war in Ukraine to Western restrictions on semiconductor tech exports to China and, lately, a nuclear submarines deal between the U.S., U.K. and Australia that irked Beijing — has only served to bring the countries even closer together, according to analysts.
“If you look at the trajectory of China-Russia relations within the last decade, bilateral ties between the two countries have really developed tremendously,” Alicja Bachulska, policy fellow at the European Council on Foreign Relations (ECFR) told CNBC, saying that the process of developing ties had begun back in the 1990s.
“It’s basically about certain strategic interests, that are very close to both Beijing and Moscow at this point,” she added. “For both Russia and China, the main interest is to weaken the U.S.-led international order, that’s their primary goal, long term and short term.”
The Ukraine factor
For both China and Russia, the war in Ukraine is both a challenge to that U.S.-led world order and a way to undermine it, analysts note.
China has held back from openly supporting Russia’s war in Ukraine but it has also refused to condemn the invasion. Instead, it has echoed Moscow in criticizing the U.S. and NATO for what it sees as “fueling the fire” over Ukraine. It has also sought to carve out a niche for itself as peacemaker, calling on both sides to agree a cease-fire and come to the negotiating table for talks.
Behind the scenes, the West is concerned that Beijing could provide lethal weaponry to Russia to enable it to gain the upper hand in Ukraine, as U.S. intelligence suggested last month. Ukraine’s Western allies have signaled that any move to do so would be a red line and that, should Beijing cross it, there would be “consequences” in the form of sanctions placed on China.
Beijing has vehemently denied it is planning on supplying Russia with any military hardware. China’s foreign ministry spokesman Wang Wenbin said Monday, reiterating previous comments, that the West was supplying weapons to Ukraine, not China, telling reporters that “the U.S. side should stop fueling the fires and fanning the flames … and play a constructive role for a political solution to the crisis in Ukraine, not the other way around.”
China’s President Xi Jinping waves as he disembarks off his aircraft upon arrival at Moscow’s Vnukovo airport on March 20, 2023.
Anatoliy Zhdanov | Afp | Getty Images
China has denied it is planning to help Moscow militarily but analysts say Beijing is concerned over the war in Ukraine, noting that China views a Russian failure in Ukraine as a threat, given that it carries the risk of a potentially seismic political fallout back in Russia that in turn could harm Beijing.
“The worst case scenario for Beijing now is Russia’s complete failure in this war,” the ECFR’s Bachulska said.
“If they begin to think that Russia might fail — and that in the really worst-case nightmare scenario that there [could be then] a pro-democratic government in Moscow — for China, this would be a very threatening scenario,” she noted, seen as both a “direct threat to Beijing, and the stability of the CCP [Chinese Communist Party].”
This fear, she said, could sway China when it considers whether to offer Putin help in Ukraine. “They will probably be able to provide more support if they realize that the balance of power on the battlefield is against Russia,” Bachulska noted.
It’s highly likely that, should China help Russia in terms of weaponry or military technology, however, it will look to do it in a very covert way, analysts including Bachulska and those at the Institute for the Study of War have noted, such as using Belarus or other countries.
“Xi likely plans to discuss sanctions evasion schemes with Putin and Russian officials to support the sale and provision of Chinese equipment to Russia,” the ISW said in analysis ahead of the Xi-Putin summit, noting that it had previously assessed that during a recent meeting between the presidents of Belarus and China, agreements may have been signed that “facilitate Russian sanctions evasion by channeling Chinese products through Belarus.”
The ISW said Xi and Putin are “likely to discuss sanctions evasion schemes and Chinese interest in mediating a negotiated settlement to the war in Ukraine.” CNBC contacted China’s Foreign Ministry for a response to the comments and is yet to receive a response.
Tech and trade wars
While possible military aid for China is something the West needs to watch closely, the depth and breadth of China’s loyalty toward Moscow is seen to be finite, with Beijing likely reluctant to risk major sanctions on its own economy just to help Russia.
On the other hand, analysts note that China, like Russia, has a vested interested in seeing the U.S. and wider West weakened, both geopolitically and diplomatically — for instance, if China can step in as a mediator in the conflict in Ukraine — and on an economic level, if the two nations can forge closer trade ties. This would come as the U.S. and Europe challenge China’s economic power, most recently with the introduction of sweeping export control rules aimed at restricting China’s ability to access advanced computing chips.
“Export controls on Chinese high tech — which reflect a policy of targeted containment — brings Xi closer to Putin in worldview and orientation,” Ian Bremmer, founder and president of the Eurasia Group, told CNBC, adding: “I think that’s likely to be reflected in Xi’s statements when he … visits Putin in Moscow, and that’s going to be a big deal geopolitically,” Bremmer noted.
While Russia might offer China a convenient trading and diplomatic partnership as other routes to Western markets look increasingly vulnerable, analysts note that the relationship between China and Russia is an imbalanced one.
“China doesn’t really need Russia,” Christopher Granville, managing director of global political research at TS Lombard, told CNBC. “Russia is a very tiny economy compared to China’s with the exception of some very specific things, such as its hydrocarbon exports and some aspects of its military industries,” he noted.
“What I would say though is that the U.S. pressing on China, especially in these trade wars and now tech wars, is a clear zero-sum project by the U.S. government to prevent China from reaching the frontier of key technologies, notably semiconductors,” he noted.
“It seems to me that as a result of the U.S. government’s zero-sum campaign to pull back China, to stop it getting ahead and keep it behind, is that suddenly the relationship with Russia becomes more valuable to China.”
Environment
The 2026 Polestar 4 is officially on sale in the US, priced slightly higher than originally promised
Polestar announced it has officially opened up sales of its long-promised 4 crossover SUV as a 2026 model, available to US customers starting today. Below, we’ve included performance specs and pricing separated by each model variant.
The Polestar 4 is the, you guessed it, fourth model from the Geely-owned, Swedish-designed automaker. The 4 was unveiled in 2023 before it kicked off production in China later that year.
Those EVs were followed by deliveries to Europe and Australia in 2024, although US customers have had to continue to wait. In April 2024, Polestar said it was officially opening orders for the 4 in the US, starting at $54,900 and available in eight (yes, eight) different variants, built in North America.
Deliveries were expected to follow in Q2 2025, but Polestar faced several hurdles, including the appointment of a new CEO and the looming threat of tariffs from the Trump Administration. As such, Polestar has regrouped and returned with updated timelines for its latest model.
As of this morning, the Polestar 4 is on sale in the US as a 2026 model that will initially be assembled in Korea. It starts at $56,400. You can learn more below.
The 2026 Polestar 4 is FINALLY on sale in North America
Per the automaker, the 2026 Polestar 4 is officially on sale in the United States and can now be configured at Polestar.com. When it was still a 2025 model, Polestar said the 4 would be built alongside its 3 sibling in North America, but things have changed, at least as US sales begin.
2026 Polestar 4 EVs destined for North America will instead be built in Busan, South Korea. Per the head of Polestar North America, Rick Bryant:
Following the successful launch of Polestar 4 in other markets around the world, we are thrilled to open the order books for the 2026 Polestar 4 in North America, which will all be built in Busan, South Korea. Polestar 4 confidently enters the premium performance class within the D-SUV segment. Our SUV coupe’s innovative design offers generous interior space and a stunning appearance. Coupled with the assembled-in-the-U.S. Polestar 3, we now offer two dynamic SUV options for North American customers
As a 2026 model, Polestar appears to have slightly trimmed down its 4 variants, now offering five options for North American customers. Here’s how they break down:
| 2026 Polestar 4 Variant | Drivetrain | Battery Capacity |
Max Charge Rate (DC) | EPA Range (Est.) | Power | Torque | Acceleration (0-60 mph) | Starting MSRP* |
| Long Range Single Motor (w/ standard Pilot Pack) | RWD | 100 kWh | 200 kW | 300 miles | 272 hp | 253 lb-ft | 6.9 seconds | $56,400 |
| Long Range Single Motor (w/ Pilot and Plus Pack) | RWD | 100 kWh | 200 kW | 300 miles | 272 hp | 253 lb-ft | 6.9 seconds | $61,900 |
| Long Range Dual Motor (w/ standard Pilot Pack) | AWD | 100 kWh | 200 kW | 270 miles | 544 hp | 506 lb-ft | 3.7 seconds | $62,900 |
| Long Range Dual Motor (w/ Pilot and Plus Pack) | AWD | 100 kWh | 200 kW | 270 miles | 544 hp | 506 lb-ft | 3.7 seconds | $68,400 |
| Long Range Dual Motor (w/ Pilot, Plus and Performance Pack) | AWD | 100 kWh | 200 kW | 270 miles | 544 hp | 506 lb-ft | 3.7 seconds | $72,900 |
You can see how the promised initial variants compare here. It looks like Polestar nixed any variant that initially had a “Pro Pack.” The automaker has also removed the Long Range Single Motor trim, which was supposed to start at an MSRP of $54,900. That’s why the current MSRPs seem higher, albeit only slightly if at all.
Polestar pointed out that its Long Range Dual Motor variant of the 2026 4 is its fastest production model to date, accelerating from 0 to 60 mph in 3.7 seconds. I’d take that all day.
Production for North American customers of the 2026 Polestar 4 is expected to begin in South Korea this summer, followed by initial customer deliveries this fall. What do you guys think? Will the Polestar 4 be worth the wait?
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Tesla’s sales continue to crash in Europe despite the availability of the new Model Y and record discounts.
However, the automaker clings to a good month in Norway, which is not particularly impressive in comparison and could prove to be a fluke.
More data is starting to come from European markets about Tesla sales from May.
Yesterday, we reported on Tesla’s disastrous performance in France, which was even worse than the first quarter despite the new Model Y now being available.
Now, the latest data confirms that similar declines are continuing for Tesla in Europe in Belgium, Spain, Sweden, Denmark, and other markets:
The only two markets that haven’t seen declines in May are Norway and Austria.
While Tesla isn’t commenting on any of the markets where its sales are crashing, the automaker quickly promoted its surprising performance in Norway:
However, it is worth nothing that the 213% increase in deliveries is compared to a particularly bad May 2024 for Tesla.
For comparison, here are Tesla’s deliveries in the second month of each quarter over the prior two years:
It’s clear that the anomaly was more with May 2024 than incredible performance in May 2025 – even though there’s no doubt that Tesla’s sales have recovered in Norway last month.
That’s partly due to Tesla offering record discounts, including zero-interest financing on the new Model Y.
The automaker has been offering similar incentives throughout Europe, but it isn’t having as much success with it.
With most of the data from the month of May coming in, Tesla’s Q2 deliveries in Europe are currently tracking below the already disastrous Q1 performance, which Tesla blamed on the Model Y changeover.
Electrek’s Take
Tesla can try to frame this however it wants, but the data is clear: Tesla’s sales are dropping like a rock in Europe despite the availability of the new Model Y and record incentives like zero-interest financing.
2,500 Norwegians buying Tesla vehicles in May isn’t compensating for the declines in other markets and I doubt that the surge in May in Norway is going to be sustainable in the second half, especially if Tesla ends the zero-interest financing when it claims it will at the end of the quarter.
At this point, what Tesla needs in Europe is to be completely dissociated from its CEO and a more updated EV lineup that includes smaller and more affordable vehicles, like the Kia EV3, Volve EX30, etc.
Unfortunately, its CEO is too focused on false promises regarding autonomy to bring those vehicles to market.
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A cyclist rides past the Meta sign outside the headquarters of Facebook parent company Meta Platforms in Mountain View, California, on Nov. 9, 2022.
Peter Dasilva | Reuters
Meta has signed a 20-year agreement to buy nuclear power from Constellation Energy, continuing the wave of tech giants teaming up with the industry in order to meet the growing power needs of data centers.
Beginning in June 2027, Meta will buy roughly 1.1 gigawatts of energy from Constellation’s Clinton Clean Energy Center in Illinois, which is the entire output from the site’s one nuclear reactor. The companies said the long-term agreement will support the continuing operation of the plant, as well as its relicensing. Without the commitment from Meta, the plant was in danger of closing when its zero-emission credit, which it’s relied on since 2017, expired.
“We are proud to partner with Meta. … They figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy,” said Joe Dominguez, Constellation’s president and CEO. “Sometimes the most important part of our journey forward is to stop taking steps backwards.”
Terms of the deal, which will also expand Clinton’s output by 30 megawatts, were not disclosed. The plant will not power Meta’s data centers directly – instead it will continue to provide power to the regional grid, while contributing to the tech giant’s goal of 100% clean electricity.
Constellation shares rallied more than 15% on the agreement.
CEG rallies
Tuesday’s announcement is the latest in a slew of deals between big tech and the nuclear industry. In September, Constellation said it would restart Three Mile Island – the site of the worst nuclear meltdown in U.S. history – and sell the power to Microsoft under a 20-year agreement.
Google recently pledged to fund the development of three new nuclear sites, after last year teaming up with small modular reactor developer Kairos Power. Amazon invested more than $500 million to develop SMRs in October, and bought a data center campus powered by the Susquehanna nuclear plant in March 2024. Tech giants, including Amazon, Google and Meta, signed a pledge in March led by the World Nuclear Association calling for nuclear energy worldwide to triple by 2050.
Still, the deal with Constellation marks Meta’s first official foray into nuclear. In December, the company put out a request for proposals to find nuclear energy developers to partner with, saying they wanted to add between one and four gigawatts of new nuclear generation in the U.S. That proposal, which is focused on advanced nuclear, remains in progress, and stands apart from the company’s backing of the Clinton facility.
“Securing clean, reliable energy is necessary to continue advancing our AI ambitions,” said Urvi Parekh, head of global energy at Meta. “We are proud to help keep the Clinton plant operating for years to come and demonstrate that this plant is an important piece to strengthening American leadership in energy.”
President Donald Trump recently signed four executive orders aimed at speeding nuclear deployment, setting a target of quadrupling U.S. nuclear energy by 2050. The executive orders call for, among other things, an overhaul of the Nuclear Regulatory Commission, as well as building out a domestic supply chain for nuclear fuel.
The White House has also called for faster regulatory approval for reactors – including small modular reactors. In the past, nuclear projects have been plagued by high upfront costs and long construction timelines. The industry is hoping that SMRs can be a more cost-effective way to scale up nuclear power. At present, there are no operational SMRs in the U.S.
Constellation said Tuesday that it is considering seeking a new permit from the Nuclear Regulatory Commission to possibly build a small modular reactor at the Clinton site.
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