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CCTV: Xi, Putin Held Phone Call Friday On Ukraine

CHINA-RUSSIA

China's state-run CCTV reporting that President Xi Jinping held a phone call with his Russian counterpart Vladimir Putin on Friday to discuss the Ukraine crisis.

  • CCTV states that Xi called for 'negotiations to address the Ukraine issue'. No more detailed information than this.
  • Significant focus on how China reacts to the Russian invasion of Ukraine, with the West concerned that a nascent alliance between Moscow and Beijing could prove both a security risk in Europe and Asia, as well as an economic risk should the two nations seek to develop parallel financial avenues (such as a non-dollar SWIFT-style system) to reduce the impact of Western sanctions.
  • Yesterday, MNI published an article examining the potential impact of increased Russian inflows of capital into Chinese markets (see MNI: Yuan Seen Benefiting From Russia Flows, To Weaken Later')
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