Putin expresses gratitude to China for their peace “initiatives” in Ukraine.

Vladimir Putin, the president of Russia, celebrated expanding commercial relations with China on Thursday and expressed his “gratefulness” to Beijing for attempting to resolve the conflict in Ukraine.

Putin was addressing a news conference in Beijing with Chinese President Xi Jinping, one day after he declared that his forces were making progress in Ukraine on “all fronts”.

“I will let the Chinese president know about the circumstances surrounding the Ukraine conflict. Putin stated, “We appreciate the efforts our Chinese friends and colleagues are doing to find a solution to this issue.

In order to resolve the conflict, Moscow claims it is willing to engage discussions with Kyiv on the situation on the ground, namely Russia’s claim to have seized the regions of Donetsk, Kherson, Lugansk, and Zaporizhzhia.

China has attempted to portray itself as a mediator in the crisis and views itself as a neutral party in it, which it has never denounced.

Western nations claim that Beijing’s ambiguous peace plans from the previous year would allow Russia to retain control over a large portion of the land it has taken over in Ukraine.

Putin also seemed to be criticising in Beijing the security alliances in the Asia-Pacific area that are dominated by the West; this is an issue that both Beijing and Moscow find concerning.

In the area, he argued, “closed military-political alliances” were “very harmful” and “counterproductive.”

Russia’s most significant political and economic ally since Moscow’s invasion of Ukraine in February 2022 is now China.

Putin celebrated such expanding relations on Thursday, even as he hinted at attempts by the West to create a rift between the two nations.

He said that more than 90% of bilateral commerce was now done in yuan and rubles.

“And it continues to grow, meaning mutual trade and investment is reliably protected from the influence of third countries,” said Putin.

China’s exports to Russia have decreased recently as a result of American threats to pursue Chinese banks and businesses for suspected involvement in helping Russia get items that are sanctioned.

Numerous Chinese banks have reportedly stopped some transactions with Russian enterprises due to concerns, according to Russian media.

Putin stated that Chinese and Russian banks and payment organisations will improve their ties and collaboration, without mentioning such issues.

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