• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
China
Europe

Xi meets ‘old friend’ Putin for first time since early February, but raises ‘questions and concerns’ about the war

By
Yvonne Lau
Yvonne Lau
Down Arrow Button Icon
By
Yvonne Lau
Yvonne Lau
Down Arrow Button Icon
September 15, 2022, 2:43 PM ET
Chinese president Xi Jinping and Russian president Vladimir Putin pose for a photo during the SCO Summit in Samarkand, Uzbekistan, on September 15, 2022.
Chinese President Xi Jinping and Russian President Vladimir Putin pose for a photo during the Shanghai Cooperation Organization leaders’ summit in Uzbekistan, Sept. 15, 2022.Alexandr Demyanchuk—Sputnik/AFP
Add Fortune on Google for similar content.

Chinese President Xi Jinping and Russian President Vladimir Putin met for the first time since Russia invaded Ukraine on the sidelines of a Beijing-led summit in Uzbekistan on Thursday. 

It was Xi’s first overseas trip since the COVID-19 pandemic began. 

Xi called Putin his “old friend” and promised to “work with Russia [and] display the responsibility of the major powers [to] play a leading role to inject stability and positive energy to a world in chaos.” 

But in a surprise declaration, Putin admitted that Russia “understood” China’s “questions and concerns” about the Ukraine invasion and vowed to “explain” its position to Beijing, suggesting that Sino-Russian tensions have been brewing over the war. 

“We highly value the balanced position of our Chinese friends when it comes to the Ukraine crisis,” Putin told Xi. 

China’s ‘balanced position’ 

Since Russia’s invasion on Feb. 24, China has toed a delicate line between avoiding violating Western sanctions against Russia, and denouncing the “abuse of sanctions” and the “Cold War mentality.” 

Beijing has not openly supported Russia’s war, nor provided any material support for Moscow and its military, but it has refused to condemn Putin’s actions in Ukraine. 

Only a few weeks before Russia’s invasion, Xi and Putin declared a “no limits” friendship during a February summit. This relationship is now being tested—and Putin’s Thursday comments could indicate a turning point that suggests Beijing’s unhappiness with Russia. 

Ian Bremmer, founder of political risk consultancy Eurasia Group and political science professor at Columbia University, tweeted that Putin’s admission is the “first public sign of [Russia] recognizing pressure to back down. Russia has become a pariah to the G7 because of [its] invasion. China wants no part of that.” 

Putin’s invasion also raised red flags for Beijing’s pursuit of energy security; Russia is one of China’s top energy suppliers. It showed Xi that Putin is a potentially “unpredictable and unreliable” partner, Edward Chow, senior associate of energy security and climate change at the Center for Strategic and International Studies (CSIS), told Fortune in July. 

Still, the war is leading Moscow to depend even more on Beijing. Sino-Russian ties have deepened over the past decade, but the war emphasizes Russia’s status as the “junior partner” in the relationship. “Russia needs China more than China needs it,” Robert Daly, director at the Kissinger Institute on China and the United States, told Fortune earlier this year. 

Russia is also relying on nations like China and India to buy its oil, natural gas, and coal as Western nations shun Russian energy. China felt obligated to “take advantage” of Russia moving its crude at bargain prices, Chow said during a July event. Chinese companies have been expanding their Russian presence in recent years, but the war—and resulting exit of over 1,000 international firms—have allowed Chinese brands to seize greater market share. 

Xi and Putin’s meeting took place during a Shanghai Cooperation Organization (SCO) summit, a China-led, eight-member group that seeks to act as a counterbalance to U.S.-led, Western alliances. Xi is sending a “clear” message about which world leaders are China’s friends “in ways and under terms…that the Chinese can lay down,” Steve Tsang, director of the China Institute at SOAS University of London, told Reuters. 

Moscow for its part, expressed “solidarity” for Beijing’s stance on Taiwan, which China claims as its territory. “We…firmly adhere to the principle of ‘One China,’” Putin said during the event.

On Thursday, Washington called on Beijing to take a stand against Russia’s war on Ukraine. No country should remain “on the sidelines,” John Kirby, White House spokesperson, told CNN as Xi and Putin met in Uzbekistan. “The whole world should be lined up against what Putin is doing,” Kirby said.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
By Yvonne Lau
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Photo of ballots being counted and sorted
PoliticsElections
Nearly 150,000 California mail ballots rejected in June primary, a record high thanks to late-arriving ballots
By The Associated Press and MIchael R. BloodJuly 24, 2026
4 hours ago
Photo of the nun
North AmericaImmigration
Nun detained by ICE on her way to Mass speaks out for first time: ‘For me, a nun, not to go to Mass…it was very, very heartbreaking’
By The Associated Press, Valerie Gonzalez and Jamie StengleJuly 24, 2026
5 hours ago
Court illustration of the author testifying
LawTerrorism
Salman Rushdie describes a ‘lake of blood’ as his convicted attacker faces terrorism charges tied to the 2022 stabbing
By The Associated Press, John Wawrow and Jennifer PeltzJuly 24, 2026
5 hours ago
A gun lays on a table next to a row of ammunition.
Lawgun control
Two gun rights groups are suing the U.S. Virgin Islands over concealed carry for nonresidents
By The Associated Press and Danica CotoJuly 24, 2026
5 hours ago
Vice President JD Vance sits in on a meeting.
North AmericaJD Vance
The Secret Service is investigating a member of JD Vance’s detail over a suspected news leak
By The Associated PressJuly 24, 2026
5 hours ago
Google logo is displayed on a smartphone in front of the EU Flag.
CybersecurityGoogle
EU strikes Google with $1 billion fine in major crackdown on antitrust regulations even as Trump threatens retaliation
By The Associated Press and Sam McNeilJuly 24, 2026
5 hours ago

Most Popular

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
18 hours ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
15 hours ago
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
AI
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
By Mia OsmonbekovJuly 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.