China has reaffirmed its relationship with Russia, stating that it remains "rock-solid" despite the global criticism over its war in Ukraine. Chinese Foreign Minister Wang Yi said China is still hoping for a peaceful resolution to the war in Ukraine while also accusing the U.S. of attempting to start a new conflict by forming a new version of NATO in the Indo-Pacific region.

Wang said China is still willing to play a "constructive role" in brokering peace talks with Russia and Ukraine. He added that China is openly cooperating with the international community in hopes of finding a peaceful resolution to the conflict. During his address to the media, Wang said China and Russia's friendship continues to be "rock-solid."

While most of the world's governments and major corporations have begun to impose economic sanctions against Russia, China remains to be one of the few countries that have not condemned Russia's actions in Ukraine. China has also continued to stick to Russia's narrative, claiming that Russia's actions in Ukraine did not constitute an invasion.

China's top diplomat said the nation is committed to helping supply humanitarian aid to Ukraine. He called on other nations to reject imposing sanctions against Russia aimed at chocking its economy and instead respect its "legitimate security interest."

Without directly mentioning the U.S., Wang said other countries must not interfere with China and Russia's relations. He added that these countries must also respect Russia and Ukraine's sovereignty.

China abstained from a vote on a United Nations resolution that had condemned Russia's actions in Ukraine just a month after President Xi Jinping met with Russian President Vladimir Putin in Beijing.

Economists said China does stand to gain from the sanctions imposed by other nations against Russia. Chief Asia-Pacific economist at the investment bank Natixis, Alicia Garcia Herrero, said China's best bet to gain from the conflict is to take no action at minimal risk. He added that foreign sanctions would only result in bringing Russia to China.

Apart from addressing the country's stance in Ukraine and its relations with Russia, Wang also lashed out at the U.S. for engaging in a "zero-sum competition" that threatens China's core interest. He also accused the U.S. of forming an Indo-Pacific version of NATO. Wang said the U.S. would face "unbearable consequences" if it continues to support Taiwanese independence.

Comparing Ukraine and Taiwan, Wang said Taiwan is an "inalienable" part of China, while Ukraine is a country in dispute with Russia. Wang said China rejects comparisons between Ukraine and Taiwan as they are completely different situations.