BEIJING (AP) — Russian Prime Minister Dmitry Medvedev says Moscow has signed an $85 billion deal to supply oil to China.
Medvedev said in an online discussion with Chinese Internet users that Russia's biggest oil producer, Rosneft, would supply 70 million barrels of crude a year for 10 years.
Medvedev says the agreement "testifies to the fact that we have reached a higher and a brand new level of cooperation."
China is the fastest-growing energy market and Russia is a major supplier. The two sides have expanded trade in oil and gas but progress has been slowed by lack of agreement on prices and other details.