Recovery of global economy with anti-Russian sanctions difficult: Chinese PM
The Chinese Premier stresses the importance of talks between Ukraine and Russia and highlights the effects of anti-Russian sanctions on the global economy.
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China threatens the effect of sanctions on the global economy.
China hopes that the military operation in Ukraine will be settled as soon as possible and that all parties involved in the crisis cooperate, Chinese Premier Li Keqiang said on Friday.
"The current situation in Ukraine is drawing the attention of the whole international community. China is also deeply concerned. We hope that the situation in Ukraine will be settled and the peace will be restored as soon as possible," Li said.
Regarding rooted principles of mutual respect and mutual benefit, China will "develop cooperation relations with all parties and ensure more stability in the world," the Premier added.
Maintain talks between Russia, Ukraine
China finds it important to maintain the negotiating process between Russia and Ukraine and welcomes any efforts that will promote the peaceful settlement, Chinese Premier Li Keqiang said on Friday.
"The current situation in Ukraine is really concerning, it is necessary to make all the efforts to support the Russian-Ukrainian talks on overcoming differences and finding a peaceful solution," Li said.
China will continue to work with the international community to restore peace, the Premier added.
Sanctions will affect the global economy
The anti-Russian sanctions will negatively impact the recovery of the global economy after the COVID-19 pandemic and will inflict damage on all the countries, the Chinese PM.
"The global economy is already under the negative burden of the pandemic, the sanctions will hit the recovery of the global economy and will not be profitable for any country," Li said.
Read more: Anti-Russia sanctions to impact the world
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that sanctions imposed by the West on Russia may have an impact on the global economy due to increasing inflation caused by rising oil and grain prices.
"What is happening, of course, has implications for the economy of Ukraine, but the impact is going to go beyond Ukraine," Georgieva said.
She added that "because we have already seen actions taken in terms of sanctions that would add to the economic impact of this crisis and will be transmitted primarily through energy prices as well as grains prices adding to the growing concern of inflation and how it can be countered."
