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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Putin-Xi talks - key takeaways

17:22 21 March 2023

Chinese President Xi Jinping has been on a visit to Moscow in recent days, where he spoke with Russian President Vladimir Putin. The visit was watched closely in the West for possible signs of China offering lethal weapon supplies to Russia. However, there were no mention of increased military supplies in the post-talks press conference or in the joint statement issued. Nevertheless, it was announced that cooperation between Russian and Chinese armed forces will be deepened and regulat air and naval drills will be conducted. Overall, talks focused mostly on economic cooperation between the two countries as widely expected. Below are some key takeaways from news headlines coming out after talks finished.

Overall

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  • Documents on strategic cooperation between China and Russia were signed

  • Xi invited Putin to visit China this year. The Kremlin adviser did not rule out such a visit

  • Regular contacts between prime ministers of China and Russia were recommended

  • There are no winners in nuclear war and it should never be unleashed

  • Deepening of China-Russia cooperation is not confrontational towards other countries

  • Russia positively assess China's position on Ukraine

  • Cooperation between Russian and Chinese armed forces will deepen with regular air and naval drills to be held

  • Relation between China and Russia should not be viewed as military-political alliance

Putin

  • Trade and economic cooperation is top priority in China-Russian relationship

  • Russia is ready to increase oil supplies to China and will increase LNG exports to China

  • Putin said that peace plan proposed by China could be basis for settlement of the Ukraine war if the West and Kyiv are ready for talks

  • Russia is helping build atomic stations in China

  • Will reacted to UK plans to send depleted uranium ammunition to Ukraine

Xi

  • Agreed to increase trade in oil products with Russia

  • Agreed to expand cooperation in digital economy with Russia

  • Stressed responsible dialogue  as a way to solve Ukrainie war

As far as market's reaction is concenred, there was barely any. As no major announcements were made apart from what was already widely expected, markets mostly ignored the talks and its outcome.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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