Putin spoke with his counterpart in China today and here’s how the Kremlin characterized it:
- Putin told Xi that military operation in Ukraine was necessary to protect civilian population from genocide
- Xi told Putin he respects Russia’s actions, affirmed readiness for close coordination and mutual support at the United Nations
- Putin and Xi said use of sanctions to achieve selfish goals of individual countries was unacceptable
- Putin told Xi he could be ready to send delegation to Minsk for talks with Ukraine
The ruble is up 4% today as the capital flight from Russia slows, or Russia intervenes. Lost in the pre-war buildup was Putin’s trip to China at the start of the Olympics. While there he signed a deal to build a gas pipeline to China.