New Delhi, May 10 -- MOSCOW (SPUTNIK) - President Vladimir Putin said on Saturday that Russia and China were approaching a major new breakthrough in oil and gas cooperation, signaling what could become one of the most strategically important energy agreements since Moscow redirected its economic future toward Asia.

Speaking to reporters in Moscow after Victory Day commemorations, Putin said the two countries had reached "a high level of agreement" on a "very significant step forward" in energy cooperation, though he stopped short of disclosing details of the negotiations.

The carefully calibrated statement nevertheless carried unmistakable geopolitical weight. At a moment when the US and its European allies continue trying to isolate Ru...