Chinese leader Xi Jinping has promised to strengthen support for Russia in response to US President Donald Trump's threat to impose secondary sanctions on Moscow's trading partners.

Source:Kremlin-aligned Russian news agency RIA Novosti, as reported by The Moscow Times, an independent Amsterdam-based news outlet

Details:At a meeting with Russian Foreign Minister Sergei Lavrov in Beijing, Xi noted that the foreign ministries of both countries should "effectively implement the important agreements" reached with Kremlin leader Vladimir Putin and "strengthen mutual support and cooperation on multilateral platforms, such as the Shanghai Cooperation Organisation".

He also emphasised the need to protect both nations' security and development interests.

Background: 

• Oil prices fell on 15 July after Trump issued a 50-day ultimatum to Russia to agree to a peace deal in Ukraine to avoid sanctions, easing fears of immediate supply disruptions.
• "The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days," said UBS commodities analyst Giovanni Staunovo. "Those fears about an imminent additional tightness in the market have dissipated. That's the main story."
• Analysts at ING said in a note that if potential sanctions are imposed, they would "drastically change the outlook for the oil market".
• "China, India and Turkey are the largest buyers of Russian crude oil. They would need to weigh the benefits of buying discounted Russian crude oil against the cost of their exports to the US," ING analysts said.

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