Russia and Ukraine announced on Thursday that their delegations will hold separate talks with the delegation of the United States in Saudi Arabia next Monday.
According to Russian presidential aide Yuri Ushakov, the next round of Russia-U.S. talks on Ukraine will be held on Monday in Riyadh.
The Russian delegation will be led by Grigory Karasin, chairman of the committee on international affairs in Russia's upper house, and Sergey Beseda, adviser to the head of Russia's Federal Security Service, Ushakov said.
Ushakov said he had a phone call with U.S. National Security Advisor Michael Waltz on Wednesday, during which they discussed organizing a meeting of expert groups, mainly to explore the prospects for possible implementation of the Black Sea initiative.
The Kremlin said Tuesday that Russian President Vladimir Putin and U.S. President Donald Trump agreed to begin talks to further work out specific details of an agreement regarding the safety of navigation in the Black Sea.
Russia and Ukraine signed separately with Türkiye and the United Nations the Black Sea Grain Initiative in Istanbul in July 2022, which allowed Ukraine to export its grain and other agricultural products from its Black Sea ports.
The initiative, which was initially valid for 120 days, expired on July 17, 2023 after several extensions with Russia complaining that its demands to improve its own grain and fertilizer exports have not been met.
Ukrainian President Volodymyr Zelensky, during his visit to Oslo, confirmed on Thursday that Ukrainian and Russian representatives will meet their American counterparts respectively in Saudi Arabia on Monday for discussions on Ukraine's future. However, he stated that Ukraine does not believe Russia will agree to a ceasefire. "We are trying to take steps in the right direction," Zelensky said at a press conference in Oslo alongside Norwegian Prime Minister Jonas Gahr Store.
Also on Thursday, the European Union (EU) started a two-day summit in Brussels, with the situation in Ukraine being one of the main topics.
Addressing the summit via video link, Zelensky urged European Union leaders to promptly approve a package of at least five billion euros (5.45 billion U.S. dollars) for artillery shells.
He called on the EU not to ease up on pressure on Russia, and to invest jointly with Ukraine in weapons production.
The EU countries, however, remained divided over military support for Ukraine.
EU foreign policy chief Kaja Kallas made a proposal earlier this week to pledge up to 40 billion euros (43.67 billion U.S. dollars) in military aid for Ukraine this year, with each country contributing according to the size of its economy, which was met with doubts and opposition voices from several EU countries including Ireland, Slovakia, Italy and Spain.
At Thursday's summit, Hungary refused to sign a joint statement of support for Ukraine, the content of which includes commitment to continued provision of arms and ammunition to Ukraine, rejecting Russia's request to stop military support to Ukraine, and supporting Ukraine's independence, sovereignty and territorial integrity.
Russia, Ukraine to hold separate talks with US in Saudi Arabia
Russia, Ukraine to hold separate talks with US in Saudi Arabia
Russia, Ukraine to hold separate talks with US in Saudi Arabia
Russia, Ukraine to hold separate talks with US in Saudi Arabia
The improving and huge Chinese consumer market is poised to bring fresh momentum to the global economic growth, according to a commentary of The Real Point published on Friday.
An edited English-language version of the commentary is as follows:
Consumer sentiment in China has improved, revealed a survey by Deutsche Bank AG recently.
In its latest report, the bank highlighted that compared to last year, more Chinese consumers feel their financial situation has improved. Notably, 52 percent of the respondents expressed willingness to increase discretionary spending, marking the highest level in a year. Official data supports this trend - China's total retail sales of consumer goods reached 8.37 trillion yuan (about 1.15 trillion U.S. dollars) in the first two months of this year, beating expectations.
Professor Wang Xiaosong from the School of Economics at Renmin University of China said that one reason for this surge of confidence is China's steady economic recovery since last year, with rising household incomes providing a solid foundation for consumption growth. Another key factor is the series of supportive policies introduced by the Chinese government.
From a series of measures in last September's stimulus package to this year's top legislature session prioritizing consumption and the recent rollout of a plan on special initiatives to boost consumption, all these policy supports will significantly boost consumption in the world's second-largest economy.
As more Chinese consumers loosen their purse strings, foreign companies deeply invested in China are also reaping the benefits.
Tetsuro Honma, global vice president of Panasonic Group, said that China's subsidy policies have boosted their sales markedly, with refrigerator sales soaring over 60 percent year on year and washing machines up 80 percent.
A senior executive from L'Oreal China highlighted China's commitment to optimizing the consumer environment, providing solid support for the high-quality development of the beauty industry.
Hock Tan, president and CEO of Broadcom, emphasized that China's policy stability and predictability helps businesses to better forecast market trends.
Policy ensures stability while innovation fuels growth. As China accelerates the development of new quality productive forces, its consumer market is also exhibiting dynamic growth.
Ralf Brandstätter, chairman and CEO of Volkswagen Group China, said that the company is leveraging local research and development capabilities to drive its electrification strategy.
He revealed that their first batch of new products and cutting-edge technologies will be unveiled at the upcoming Auto Shanghai show.
China, with over 1.4 billion people, remains one of the world's largest and most valuable consumer markets.
McKinsey predicts that by 2030, Chinese urban residents will drive 91 percent of global consumption growth, contributing 7 trillion U.S. dollars to global urban consumption, 30 percent of the total increase.
Consumption is a key driver of economic growth. As China shifts towards a consumer-driven economic growth model, the global economy is bound to gain fresh momentum.
Recognizing China's consumer potential, foreign investors are doubling down on their investment in China this year.
So far, major foreign investment projects totaling 33 billion U.S. dollars have been announced.
Tesla, Lexus, and other global automakers are expanding their footprint in China.
Eli Lilly and Company plans to increase investment and expand local production capacity.
McDonald's aims to open 1,000 new restaurants in China this year and Subway is set to add 300 to 500 new stores annually.
China's vast consumer base continues to be a magnet for global investors, reinforcing its position as the world's most attractive consumption hub.
China's huge, improving consumer market to boost world economy: commentary
