Well, I think he is not that well informed about how industry, technology, military tech and R&D works.
I don't see the point here.
In an industrial sense, China already has a robust and ever growing military industrial complex. Why deprive your ally's means to profit from their hard earned IP? I think it would be a good chance to ask the Russian to expend their allowed list of their best military products/components that can be exported to China. Letting more Russia companies have access to the Chinese military market with their best products, and both sides benefit, instead of being literally a blackmailer.
乘人之危 and blackmailing will only fuel future rifts. China does NOT have to do that, especially not to an ally.