China Working to Mitigate US Impact on Trade Exchanges With Russia – Envoy
/ Go to the mediabankChinese President Xi Jinping and Russian President Vladimir Putin 
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MOSCOW (Sputnik) – China is working together with Russia to urgently fix trade exchange issues stemming from US sanctions on financial transactions with Russia, Chinese Ambassador Zhang Hanhui told Sputnik on Tuesday.”US sanctions have created certain problems for trade exchanges between China and Russia. The sides are actively engaged in urgent talks to find an effective solution to this problem,” the diplomat said.
The Wall Street Journal reported in April that the United States was drafting sanctions that could cut some Chinese banks off the global financial system in order to end alleged Chinese support for the Russian military operation.
China counts on cooperation with Russia to increase trade in crude oil, the ambassador put forward, adding that Beijing was opposed to unilateral sanctions and other attempts to interfere in global commodities trade.”In terms of market demand, energy cooperation between China and Russia holds many opportunities. I am certain that China and Russia will work together to uphold a healthy, stable trade in crude oil and other energy resources,” the diplomat said in Moscow.Ambassador Zhang said China had always contributed to efforts to protect global energy security in times of volatility in the global market, while opposing restrictions imposed on trade by other countries.”China has been consistently opposed to unilateral sanctions and interference by third parties in energy commodities trade,” he said.
The United States, Europe and their allies have imposed several rounds of sanctions on Russia's energy exports since February 2022 in response to its special operation.
AnalysisPepe Escobar: Russia and China Sketch the Future as the World Awaits Iran’s Next Move10 April, 17:46 GMTChinese President Xi Jinping and Russian President Vladimir Putin have agreed to maintain communication on strategic issues, and Beijing welcomes the Russian leader’s upcoming state visit following his inauguration, Zhang Hanhui shared with Sputnik.
"The two heads of state agreed to continue to maintain close contacts and conduct in-depth exchanges of views on Sino-Russian relations and strategic issues of common interest," the diplomat said, adding that Beijing "welcomes" Putin’s announced state visit after his inauguration.
