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- China’s top envoy to US: Will work to de-escalate war in Ukraine
China’s top envoy to US: Will work to de-escalate war in Ukraine
Following US President Joe Biden’s warning to Chinese President Xi Jinping over Beijing supporting Russia’s invasion of Ukraine, Qin Gang, China’s ambassador to the US, said that they “will do everything” to de-escalate the war in Ukraine.
Key quotes
“There’s disinformation about China providing military assistance to Russia.”
“China isn’t sending “weapons and ammunitions to any party.”
“We will do everything to dis-escalate the crisis.”
“China has normal trade, economic, financial, energy cooperation with Russia.”
“Normal business between two sovereign countries.”
While China has “a lot of common interests” with Russia, that “is not a liability, China is part of the solution, it’s not part of the problem.”
Market reaction
The US-China failed talks and escalating Ukraine situation is limiting the upside in AUD/USD, as the aussie draws support from higher commodities prices.
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