Putin And Xi Pledge To Expand Ties While The West Offers Ukraine With Lifeline Of $16 Billion

The two leaders jointly criticized the West which moved to reinforce Ukraine against Moscow’s invasion with nearly $16 billion in financial aid and faster delivery of battle tanks, reported Reuters.

Russian President Vladimir Putin and China's President Xi Jinping make a toast during a reception following their talks at the Kremlin in Moscow on March 21, 2023.

New Delhi: Vladimir Putin on Tuesday welcomed China’s proposals for peace in Ukraine at a joint press conference with Xi Jinping in Moscow. Following the talks, the Russian President said that Chinese proposals could be used as the basis of a peace settlement in Ukraine. 

“We believe that many of the provisions of the peace plan put forward by China are consonant with Russian approaches and can be taken as the basis for a peaceful settlement when they are ready for that in the West and Kyiv. However, so far we see no such readiness from their side,” Putin said.

The two leaders jointly criticized the West which moved to reinforce Ukraine against Moscow’s invasion with nearly $16 billion in financial aid and faster delivery of battle tanks, reported Reuters.

The talks were intended to cement the “no limits” partnership the two leaders announced last February, less than three weeks before Russia invaded Ukraine.

The Chinese leader visited Moscow days after the International Criminal Court (ICC) issued an arrest warrant for Putin for crimes committed in the neighbouring country, where Russian forces have made little progress in recent months despite suffering heavy losses.

Xi's three-day visit to Moscow in four years, which began on Monday, was hailed by the two countries’ presidents as the result of solid and cooperative relations between the two leaders.

China last month proposed a 12-point peace plan for dealing with the war. The paper largely reiterated Beijing’s talking points on the Ukraine war, with calls for dialogue, respect for all countries’ territorial sovereignty, and an end to economic sanctions. It urged all parties to avoid nuclear escalation but critically did not suggest Russia withdraw its forces.

Meanwhile, responding to the meeting, the White House said China’s position was not impartial, and urged Beijing to pressure Russia to withdraw from Ukraine’s sovereign territory to end the war.

Earlier, Ukraine’s President Volodymyr Zelensky said that he was open to “dialogue” with China about its proposals. But he warned a ceasefire would simply allow for Russia “to prepare and come back again with their single wish, the wish of their leader – that is to occupy our country.”

According to Reuters, the International Monetary Fund, a UN agency over which the US has significant control after months of negotiations, reached a preliminary agreement with Kyiv on a four-year loan package of about $15.6 billion.

The money is expected to help Ukraine, which suffered extensive damage to its infrastructure and economy during the ongoing Russian invasion. The IMF said it expects Ukraine's economy to show growth in 2023 of -3% to 1%.

The European Union, on Monday, has pledged to send 1 million artillery rounds over the next year to Ukraine, which has been burning through them faster than allies can supply them.