But China, which has declared "no limits" to its friendship with its northern neighbour, has thrown the Kremlin an economic lifeline, tempering the impact of its banishment from the global financial system, according to CNN News.

Last year, bilateral trade jumped nearly 30 per cent to a record $190 billion, mainly boosted by China buying Russian energy. This year, their trade continued to surge, up 41 per cent in the first four months, according to Chinese customs figures.

"I believe that this year we will be able to achieve the goals set by the two countries' leaders and bring the total trade to $200 billion," Mr Mishustin said during a speech at the China-Russia business forum in Shanghai last week, according to China's state-run Global Times.

That will be one year ahead of the schedule set by Russian President Vladimir Putin and Chinese leader Xi Jinping in 2019.

Energy cooperation with China remains Russia's "absolute priority," Mr Mishustin said.

China's Premier Li Qiang met with Mr Mishustin in Beijing, and said the country was willing to work with Russia to promote their pragmatic cooperation in various fields and take it to a "new level," according to Reuters.

Mr Mishustin, meanwhile, said the two governments are making a "coordinate effort" to implement the agreements reached between Xi and Putin in their March meeting to a "supreme level," according to Russian state news agency TASS.