Putin-Xi talks - key takeaways

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

• 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.