© Alexei Maishev/POOL/TASS

Top stories from the Russian press on Wednesday, March 22nd, prepared by TASS

Russia and China reaffirm partnership as Xi Jinping’s visit to Moscow comes to an end, Japanese PM travels to Kiev, and Russia plans to extend voluntary oil production cuts. These stories topped Wednesday’s newspaper headlines across Russia.

Izvestia: Russia and China reaffirm partnership with focus on economy

On Tuesday, Russian President Vladimir Putin and Chinese President Xi Jinping met in the Kremlin to discuss a wide range of issues on the modern world agenda, with a particular emphasis on the prospects for cooperation. By the end of the Chinese president's visit to Moscow, Putin and Xi signed a lengthy statement on deepening their nine-point comprehensive partnership, as well as a separate statement on an economic cooperation plan through 2030, Izvestia writes.

The parties signed two documents - the Joint Statement on Deepening the Russian-Chinese Comprehensive Partnership and Strategic Cooperation for a New Era, as well as the Joint Statement by the President of Russia and the President of China on the Plan to Promote the Key Elements of Russian-Chinese Economic Cooperation until 2030. The latter consists of eight major areas, including increasing the scale of trade, developing the logistics system, increasing the level of financial cooperation and agricultural cooperation, partnership in the energy sector, as well as promoting exchanges and qualitatively expanding cooperation in the fields of technology and innovation.

The leaders revealed the details of the talks to the press - Putin noted that Russia and China's positions on most international issues are similar or heavily coincide. According to Xi Jinping, the parties will uphold the fundamental norms of international relations. He believes that the sphere of cooperation between Russia and China, as well as political mutual trust, is constantly expanding.

In terms of the economic agenda, trade turnover is expected to surpass the $200 bln target. The parties also discussed their intensive energy cooperation and agreed on the main parameters of the construction of the Power of Siberia-2 gas pipeline. Meanwhile, the total volume of gas supplies by 2030 will be at least 98 bln cubic meters and 100 mln tons of LNG, the Russian leader specified.

In-person meetings may continue in the near future. The Chinese President stated that he invited Vladimir Putin to visit China the day before during an informal conversation. Russia's PM Mikhail Mishustin is also expected in China. Beijing, in particular, is eager to resume regular meetings between the two countries' heads of government.

Vedomosti: Russia ready to take Chinese peace plan for Ukraine as a basis

Russia has carefully reviewed China’s plan for a peaceful settlement in Ukraine and believes it can be used for future talks, Russian President Vladimir Putin said after talks with Chinese President Xi Jinping on March 21. Russia, however, sees no readiness for peace talks from the West or Kiev, he added. Experts interviewed by Vedomosti believe that China's initiative could be used as a basis for talks, but any progress would require long and difficult negotiations.

For his part, Xi Jinping said that China supports a conflict resolution based on the UN Charter, encourages reconciliation and the resumption of negotiations, and is always committed to peace and dialogue.

China’s 12-point plan for resolving the Ukrainian crisis includes respecting the sovereignty and territorial integrity of all countries as well as the norms of international law; abandoning the "Cold War mentality"; initiating peace talks; resolving the humanitarian crisis; protecting civilians and prisoners of war; supporting the safety of nuclear power plants; reducing strategic risks; and preventing the use of nuclear weapons. Meanwhile, the West and Ukraine openly rejected China’s position that there needs to be a ceasefire.

According to Vasily Kashin, director of the Center for Comprehensive European and International Studies at HSE University, China's initiative could benefit Russia because it involves a ceasefire and the lifting of sanctions, followed by negotiations to reach a political agreement. At the same time, such negotiations will have no chance of success unless Ukraine accepts and recognizes Russian control over the new regions and Crimea, as required by the Russian Constitution. That is, the expert anticipates lengthy negotiations.

Alexey Maslov, Director of the Institute of Asian and African Studies at Moscow State University, noted that the Chinese initiative is the only one from a country that is not a party to the conflict. At the same time, he noted, the clear distinction between the Russian-Chinese position and that of Western countries is obvious.

Kommersant: Russia extends voluntary oil production cuts

The Russian government has decided to extend its average daily oil production cuts of 500,000 barrels that began in March for another three months, according to Deputy Prime Minister Alexander Novak. The mechanism is expected to restore the balance of supply and demand and support prices in the face of Western pressure. Experts told Kommersant they believe the initiative works and anticipate that the global oil market will stabilize just as Russia's voluntary restrictions expire.

According to Kommersant's market sources, key Russian oil companies consider the decision to extend production cuts acceptable, but they warn that maintaining such restrictions will harm the largest players, which would have to stop and conserve wells, resulting in additional losses. As a result, sources told the newspaper, it will be more difficult to ramp up production quickly. Furthermore, the market is concerned about a reduction in the production of oil products, wholesale prices for which were actively rising until mid-March and have only recently started to fall.

Vyacheslav Mishchenko from the Center for Analysis of Strategy and Technologies for the Development of the Fuel and Energy Sector at the Gubkin University considers the government's decision to extend the terms of production cuts logical, because such a measure would have no effect in the short term. According to the expert, global supply continues to outstrip global demand, which is reflected in prices. However, he believes that a surge in consumption will ensure that China sheds COVID restrictions, evening out the balance just in time for mid-summer.

Kommersant: Japanese PM travels to Kiev amid Xi Jinping’s Moscow visit

On the same day that Chinese President Xi Jinping visited Moscow, Japanese Prime Minister Fumio Kishida paid an unannounced visit to Kiev. To keep up with China's leader, who has decided to become the main peacemaker in Ukraine, Japan's Prime Minister, who is currently chairing the G7, visited India, the president of the G20, before going to Kiev. There, he promised multi-billion dollar investments in the Indo-Pacific region, as well as a rapprochement of the G7 and G20, as opposed to Russia and China's tandem, Kommersant writes.

According to a Japanese Foreign Ministry statement, Prime Minister Shinzo Abe planned to personally express his solidarity and intention to support Ukraine to Ukrainian President Vladimir Zelensky. Furthermore, the parties intended to reaffirm their rejection of a unilateral change in the status quo through force, as well as reassert their desire to maintain an international order based on law.

Kishida remained the only G7 leader who had never visited Ukraine, Kommersant noted. With this in mind, Japan apparently decided that the prime minister's visit to Ukraine, made during the Chinese leader's stay in Moscow, would carry additional weight and special symbolism, allowing Tokyo to avoid looking like an outsider in demonstrating support for Ukraine, according to the newspaper.

The mission of the Japanese leader did not go unnoticed in Beijing, which called on Tokyo to promote a Ukrainian settlement, and not interfere with it.

Izvestia: Russian Ambassador to Belgrade says West sees Serbia as pro-Russian actor in Europe

Western countries continue to exert enormous pressure on Belgrade, but there is a consensus among Serbian authorities to reject anti-Russian sanctions, Russian Ambassador to Belgrade Alexander Botsan-Kharchenko said in an interview with Izvestia. He believes that Western pressure on Serbia to join anti-Russian sanctions will only intensify.

"The pressure is extremely high, no one has eased it. It will only get worse, because the West desperately needs Serbia to join the sanctions - not for purely economic reasons, but for political reasons, as a strengthening of the anti-Russian front, because the West perceives Serbia as a pro-Russian actor in Europe," he explained.

However, the diplomat noted that the appeal by Serbian Economy Minister Rade Basta to join the anti-Russian sanctions had not gained traction. Moreover, the reaction to it showed that there is unity in the government and, more broadly, opposition to Western sanctions," he added.

The possibility of a visit to Moscow this year by Serbia's First Deputy Prime Minister and Foreign Minister Ivica Dacic is being worked out, the ambassador added. "The possibility of Serbian Foreign Minister Ivica Dacic's visit to Moscow is being worked out through diplomatic channels," he said.

"As for the political dialogue, it will continue, especially at the highest level, on those platforms that would ensure the progressive development of relations and the resolution of all emerging issues," the diplomat added.