China condemns the idea of confiscating russian assets and property

In a joint statement, Chinese and russian leaders Xi Jinping and Vladimir Putin said they condemn initiatives to confiscate assets and property of foreign states and emphasize the right of such states to take retaliatory measures.

"The Parties condemn initiatives to seize assets and property of foreign states and emphasize the right of such states to retaliate in accordance with international legal norms," the joint statement said, adding that both sides pledged to defend their legitimate rights and interests and resist attempts to limit their foreign policy and economic potential.

Meanwhile, the two countries will increase the level of bilateral investment cooperation and facilitate the implementation of large-scale projects guaranteeing the protection of investors' rights, the statement read. Moscow and Beijing also agreed to speed up development and approve a new edition of the Investment Cooperation Plan in 2024, it added.

Furthermore, russia and China agreed to increase the share of national currencies in bilateral trade, investment, lending, and other economic transactions, as well as improve financial infrastructure for mutual settlements between companies, the statement read.

Source: Al Mayadeen