(Bloomberg) — Chinese leader Xi Jinping signaled to Vladimir Putin that ties between the two nations remain strong, giving the Russian leader the backing he craves as he enters a new term and with the war in Ukraine in its third year.
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Xi said his nation was “ready to work with Russia as a good neighbor, friend and partner with mutual trust,” state broadcaster China Central Television reported Thursday after the pair met in Beijing.
The Chinese leader added that he was prepared “to consolidate the friendship between the two peoples for generations to come.”
The comments underscore the close relationship that has developed between the nations in recent years. The two leaders declared a “no-limits friendship” just weeks before Putin launched his full scale invasion of Ukraine, and have met more than 40 times since Xi came to power in 2012.
Putin wants the visit to ensure that the economic and trade support that China has provided since he attacked Ukraine in early 2022 remains intact. The US has warned China over its trade with Russia, threatening to sanction banks that cross red lines.
Read More: Putin Visits Xi as US Threatens China Sanctions Over Ties
The world’s second-largest economy has become an indispensable ally for Russia, which relies on China as a market for its energy and supplier of its wartime needs.
That’s put Putin in a sometimes awkward position, with Beijing wary of his nuclear saber-rattling and mindful of the need to keep unfettered access to the US-led global economic system.
Read More: Yellen Threatens Sanctions for China Banks That Aid Russia War
In recent weeks, the US has stepped up warnings to Chinese banks and exporters about consequences if they help to bolster Russia’s military capacity. In December, the Treasury Department announced it would impose secondary sanctions on banks that facilitate deals in which Russia procures semiconductors, ball bearings and other equipment necessary for its military — even if they’re unaware they’re doing so.
(Updates with talks starting.)
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