US and China will hold 1st high-level, in-person talks on Monday – Bloomberg

Anil Panchal FXStreet

“US and China will hold 1st high-level, in-person talks since Russia’s full invasion of Ukraine, as Biden admin continues to try to enlist Beijing to exert influence on Putin,” tweeted Bloomberg reporter Jennifer Jacobs quoting a person familiar with the matter.

“White House National Security Advisor Jack Sullivan to meet in Italy Monday with China’s top diplomat, Yang Jiechi, per person familiar,” add Sr. White House reporter for Bloomberg News.

The media person also mentioned the White House Statement while tweeting, “Jake Sullivan will also meet tomorrow with Italy’s Luigi Mattiolo, diplomatic adviser to Mario Draghi, on matters related to coordinating the international response to Russia's war on Ukraine.”

Additional comments

And China just released a statement on tomorrow's meeting between diplomat Yang Jiechi and US’s Jake Sullivan.

Biden admin has been working to increase pressure on China to enforce sanctions on Russia’s economy imposed by US and allies.

Market reaction

The news becomes another reason, in addition to positive progress on the Russia-Ukraine talks, to help the market witness an upbeat start to the week. However, no major reaction could be marked during the early hours of Monday’s Asian session.

Also read: IMF’s Georgieva: Russian default no longer 'improbable', but no trigger for global financial crisis

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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