A dispute over the “Power of Siberia 2” pipeline is testing Russia–China ties as negotiations stall on key commercial details. While both sides have previously signaled progress, officials say only a general understanding has been reached, leaving “nuances” such as route and construction and, crucially, pricing still to be ironed out. Russia seeks higher export-oriented terms, while China pushes for lower rates it argues reflect fair value. Analysts say the deadlock shows the partnership’s limits under shifting market leverage and wartime pressures.