China's Xi Rejects Imposing Sanctions on Russia over Ukraine War

On Thursday, Chinese President Xi Jinping said that his country opposes the "wanton use of unilateral sanctions," as the Asian power has apparently expressed support for Russia over its aggression against Ukraine.

China stays "committed to peacefully resolving differences and disputes between countries through dialogue and consultation," Xi said in an online keynote speech at the Boao Forum for Asia, billed as the region's alternative to the World Economic Forum in Davos.

With the war in Ukraine intensifying, China has shied away from condemning Russia while lambasting sanctions imposed mostly by Western nations, including the United States.

China may be unwilling to join hands with democratic countries in punishing Russia with sanctions as it could benefit from being the only major economy to continue trade with Russia, foreign affairs experts said.

"The Cold War mentality would only wreck the global peace framework," Xi said, "All should follow the path of peace and development, seek win-win cooperation, and contribute to an Asian family of unity and progress together."

Fears are mounting that the world's second-biggest economy is expected to face greater downward pressure as the Ukraine crisis and another wave of COVID-19 infections in China have been disrupting the global supply chain.

However, Xi said, "The fundamentals of the Chinese economy -- its strong resilience, enormous potential, vast room for maneuvering and long-term sustainability -- remain unchanged."

"China's faith in and its commitment to reform and opening-up will not waver," Xi also said, as the Asian nation has voiced eagerness to join the Trans-Pacific Partnership free trade agreement, from which the United States withdrew in January 2017.