"The global economy is already under the negative burden of the pandemic, the sanctions will hit the recovery of the global economy and will not be profitable for any country", Li said.
He noted it is important to maintain the negotiating process between Russia and Ukraine, adding that Beijing welcomes any efforts that will promote a peaceful settlement to the conflict.
"The current situation in Ukraine is really concerning, it is necessary to make all the efforts to support the Russian-Ukrainian talks on overcoming differences and finding a peaceful solution", Li said.
China will continue to work with the international community to restore peace, the premier added, expressing hope that that the military conflict will be settled as soon as possible.
Chinese Premier Li Keqiang speaks during a press conference after the closing session of the National People's Congress in Beijing's Great Hall of the People on Friday, March 15, 2019
© AP Photo / Ng Han Guan
"The current situation in Ukraine is drawing the attention of the whole international community. China is also deeply concerned. We hope that the situation in Ukraine will be settled and peace will be restored as soon as possible", Li said.
A new round of restrictions against Moscow was introduced by the United States, Britain, and the EU following the launch of a special operation in Ukraine. As a result, Russia is now the nation with the largest number of sanctions imposed against it, according to information from Castellum database.
The sanctions were imposed after Russia formally recognised the Donetsk and Lugansk People's Republics (DPR and LPR) in February and launched a special military operation in Ukraine, as the republics asked for assistance to defend themselves from continued attacks by Ukrainian troops. The Russian government stated that the operation's goal is to neutralise Ukraine's military capacity and de-Nazify it.
The Russian Defence Ministry stressed that the operation is only targeting Ukrainian military infrastructure with no plans to occupy the country.
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