Nomura Holdings says Beijing stepped up imports of key energies, raw materials and grains.
Many banks stopped issuing letters of credit for Russian exporters in wake of sanctions, forcing companies to simply do without them.
A China institute that advises the nation's top leaders says Western sanctions will end up hurting the US and Europe more than Russia itself.
China has become Russia's biggest export destination since sanctions were first imposed in 2014 after Russia annexed Crimea
China is Russia's biggest trade partner for both exports and imports but has – so far, say White House officials – not come to Moscow’s rescue
The agreement was the most detailed and assertive statement of Russian and Chinese resolve to work together to build an international order based on their interpretations of rights and democracy.
Friday was a day of strong geopolitical rhetoric by Asia's biggest authoritarian states, whose leaders met in Beijing and condemned the United States and its allies, while vowing to support each other
News of the deal came as the US asked Japan if it could divert some of its LNG imports to Europe in the event of a crisis in Ukraine