China and Russia Issue Joint Statement... "Countries Suffering Asset Seizure Have the Right to Retaliate"

Statements Targeting Western Countries Including the US and Europe
Agreed to Strengthen Cooperation in Trade, Finance, and AI Sectors

China and Russia announced a joint statement on the 22nd declaring their intention to strengthen cooperation across various fields including trade, finance, and artificial intelligence (AI). They also targeted the United States and European countries that have seized Russian assets, asserting that "the affected countries have the right to take retaliatory measures."

According to local media such as China's Xinhua News Agency and Russia's TASS News Agency, Russian Prime Minister Mikhail Mishustin and Chinese Premier Li Qiang stated in the joint statement of the 29th regular meeting that "the two countries plan to enhance payment and settlement infrastructure by opening proxy accounts and establishing bank branches and subsidiaries."

[Image source=Yonhap News]

They also condemned Western economic sanctions imposed after Russia's invasion of Ukraine, emphasizing that "plans to seize foreign assets and property are denounced, and the affected countries have the right to take retaliatory measures." Russia is experiencing difficulties in international payments due to related sanctions. The two premiers also mentioned that they "oppose unilateral discriminatory measures that weaken market competition and disrupt global production and supply chains."

The two countries explained that they will deepen practical cooperation in the financial sector to ensure the sustainability of bilateral trade, such as maintaining a high proportion of payments in their own currencies in bilateral trade, investment, and economic transactions. They also stated that negotiations on capital investment promotion and mutual protection agreements aim to be concluded by the end of this year.

Beyond traditional cooperation areas, the two countries agreed to strengthen practical cooperation in AI technology, cybersecurity, and aerospace collaboration.

Yang Jin, a deputy researcher at the Chinese Academy of Social Sciences, explained, "This joint statement shows that China and Russia will continue to deepen and expand practical cooperation regardless of the influence and pressure from the United States and its allies," adding, "It is certain that China-Russia relations will develop to a new level in the future."

Meanwhile, Premier Li met with Russian President Vladimir Putin the day before and will visit Belarus for two days until the 23rd. The 30th China-Russia Premier Meeting is scheduled to be held in China next year.

This content was produced with the assistance of AI translation services.