The report, which was released by Democratic lawmakers on Thursday, said that China "has become an even more critical economic partner for Russia" since its operation in February 2022.
"Beijing is pursuing a variety of economic support mechanisms for Russia that mitigate both the impact of Western sanctions and export controls," it noted
The report further says China has boosted energy imports from Russia and has provided tankers and insurance coverage to move crude oil.
The two sides have also "increased the share of bilateral trade settled in yuan" as well as "expanding their use of domestic payment systems," which helps "Russian entities to conduct financial transactions unfettered of Western interdiction."
Elsewhere, the report claims Beijing has probably supplied Moscow with dual-use civilian-military equipment employed in Ukraine but notes that it is "difficult to ascertain the extent to which (China) has helped Russia evade and circumvent sanctions and export controls."
Last year, Moscow was hit by a slew of Western sanctions over its special military operation in Ukraine, which started in February 2022. The United States has imposed a raft of sanctions on China as well.
One of the outcomes of the West's punitive measures against Moscow, which included a cap on oil prices, was that China became the top buyer of Russian oil.
China’s growing ties and cooperation with Russia come despite pressure from the West, urging Beijing to sever its relations with Moscow over the Ukraine conflict.
However, China has made it clear that it will act in accordance with its foreign policy based on securing its national interests in international relations.
This is while trade between China and Russia doubled in 2022.
China has portrayed itself as a neutral mediator in the war in Ukraine. But Beijing has been criticized by Western countries for refusing to condemn Moscow and for its continued ties with Russia.
On February 24, on the anniversary of the start of the Russian military operation in Ukraine, the Chinese Foreign Ministry presented a 12-point plan to resolve the conflict in Ukraine.
Russian President Vladimir Putin earlier this year hailed the strategic cooperation between the two nations as a stabilizing force against unprecedented Western influence.
China and Russia, as permanent members of the UN Security Council, also vowed to uphold the fundamental norms of international relations and build up constructive force for the formation of a multipolar world.
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