Chinese President Xi slams sanctions against Russia in his talks with Macron, Scholz

BEIJING: Terming the war in Ukraine as “worrisome”, Chinese President Xi Jinping in his virtual summit with his French counterpart and German Chancellor on Tuesday criticised the US and EU sanctions against Russia, saying such measures would create a global crisis which is in the “interest of no one”.

The US, EU and the allied countries have imposed punitive sanctions against Russia covering almost all areas, including de-linking Moscow from the international banking system the SWIFT after the Russian military invaded Ukraine on February 24.

“We need to work together to reduce the negative impact of the crisis,” Xi said in his video summit with French President Emmanuel Macron and German Chancellor Olaf Scholz in Beijing on Tuesday.

“Relevant sanctions will affect global finance, energy, transportation and stability of supply chains, and dampen the global economy that is already ravaged by the pandemic”, Xi was quoted as saying by an official press release here.

“And this is in the interest of no one. We need to actively advocate a vision of common, comprehensive, cooperative and sustainable security”, he said.

Xi also said that "the current situation in Ukraine is worrisome, and the Chinese side is deeply grieved by the outbreak of war again on the European continent."

“We need to jointly support the peace talks between Russia and Ukraine, and encourage the two sides to keep the momentum of negotiations, overcome difficulties, keep the talks going and bring about peaceful outcomes. We need to call for maximum restraint to prevent a massive humanitarian crisis”, he said.

Ever since Russia began military operations against Ukraine, China, a close ally of Moscow, tread a fine-line declining to condemn it as an invasion.

On Monday, Chinese Foreign Minister Wang Yi in his annual press conference said “the China-Russia relationship is grounded in a clear logic of history and driven by strong internal dynamics, and the friendship between the Chinese and Russian peoples is rock-solid”.

“No matter how precarious and challenging the international situation may be, China and Russia will maintain strategic focus and steadily advance our comprehensive strategic partnership of coordination for a new era”, he said.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.

Based in Belgium, the system is considered central to the smooth functioning of global finances and Russia's exclusion from it would hit the country hard.