The Kremlin is counting on acquiescence from the BRICS quintet as it confronts the West, and counting on capital from China to offset the loss of Western money. This is a pipedream. China's Xi Jinping drove a brutal bargain in May on a future Gazprom pipeline, securing a price near $350 per 1,000 cubic metres that is barely above Russia's production costs.
Pieties aside, the two countries are rivals in central Asia, where China is systematically building pipelines that break Russia's stranglehold. China has large territorial claims on Far Eastern Russia, land seized from the Qing Dynasty in the 19th century.
Even if Mr Putin's strategy of a Euro-Asia alliance with China succeeds, it will reduce Russia to a vassal state of China, a supplier of commodities with a development model that dooms it to backwardness. "It is a dangerous illusion. We are witnessing the funeral of Russia,” said Aleksandr Kokh, a former top Kremlin official.