Vladimir Putin flew into Beijing on 16 May seeking a signature on a massive gas deal, but he left the capital with only a handshake. He arrived with a large group of business leaders who hoped for better news from the Chinese side during the two-day visit.
Xi Jinping greeted his guest with a full military band that played Russian classics near the Great Hall of the People while they walked the red carpet. It was a show of strength designed to impress the watching world and signal that the two nations are closer than ever before.
But the music didn't pay the bills. Putin needs the Power of Siberia 2 pipeline to replace the cash lost from the European markets after the war in Ukraine began.
This project would move vast amounts of gas from Western Siberia to Northern China by way of Mongolia and anchors the future of the Russian economy. Without it, the Kremlin faces a massive hole in its state budget that will be very difficult to fill in the coming years.
Now, that plan sits on a shelf. Beijing is in no rush to sign the final papers while they debate the price of the fuel and the volume of gas needed.
So they also want to make sure they do not depend too much on Russian energy in the coming years because China always plays a long game. Diversification remains the top goal for the Communist Party leaders in Beijing as they look to secure their own energy future.
Officials in Moscow say they have a general understanding of the project, but they have not yet reached a final agreement on the price. Yet, they still have no signed contract to show the world today despite the warm words from both of the leaders.
They called each other "dear friends." They stood shoulder to shoulder against the West.
And they attacked the nuclear policy of the United States while mocking the missile defense plans of Donald Trump during their public speeches in the capital. They want to show that the era of American power is over and that a new order is rising in the East.
Russian state media showed Trump looking lonely on a plane last week and put that image next to a photo of Putin and Xi. It was a simple piece of propaganda for the folks back home who want to believe that Russia still has powerful allies.
So, the visual message was clear. But the business side was cold.
Geopolitics isn't about love. It's about what you can get.
But at the summit, it became clear that there are limits to this bond because the two nations have different goals and different needs. China will not sacrifice its own economic growth for Russian interests, regardless of how many times they toast to their friendship.
"The positions of Russia and China are not identical," the Russian government newspaper admitted after the meeting ended on Friday evening in Beijing. This was a rare moment of honesty from the state-run press that usually hides any sign of trouble between the two nations.
Now Putin must face a hard truth. Xi is a tough negotiator who will not sign a deal just to help an old friend with his growing money problems.
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