Beijing, June 24: For the third day on Friday, Chinese President Xi Jinping sharply criticised the US, EU sanctions against Russia in the ongoing Ukraine war as well as the formation of new alliances to contain China. Addressing a high-level dialogue on global development in virtual format, Xi also lashed out at the US protectionist policies.

“The protectionist policies will boomerang,” he said without directly naming the US. “Anyone attempting to form exclusive blocs will end up isolating himself; maximum sanctions serve nobody's interest, and practices of decoupling and supply disruption are neither feasible nor sustainable,"the Chinese president stressed. Chinese President Xi Jinping Hits Out at US, EU Sanctions Against Russia at BRICS Business Forum.

He also said development is being politicised and marginalised by some countries that are forming "small yards with high fences", imposing maximum sanctions and deliberately creating division and confrontation.

His criticism against the US and EU sanctions was the dominant theme of his speeches at the BRICS Business Forum on Wednesday and the 14th BRICS summit on Thursday.

In his address to the 14th BRICS (Brazil, Russia, India, China, South Africa) summit on Thursday, Xi called on the five-member bloc to jointly safeguard world peace and tranquillity, asking them to oppose the "abuse" of unilateral sanctions and reject the formation of "small circles", in an apparent jibe at the US.

Prime Minister Narendra Modi along with Russian President Vladimir Putin, Brazilian President Jair Bolsonaro, and South African President Cyril Ramaphosa took part in the annual summit hosted by President Xi.

In a veiled attack on the US and EU, he said certain countries, in attempts to expand military alliances to pursue absolute security, have coerced others to pick sides and created confrontation.

"They ignored other countries' rights and interests while seeking supremacy," Xi said, adding that the world will become even more "volatile and unstable if we allow the dangerous trend to continue". China asserts that the eastward expansion of NATO by the US and EU was the root cause of Russia's offensive against Ukraine.

BRICS countries should support each other on issues concerning their respective core interests, practice true multi-lateralism, uphold justice, fairness and unity, and oppose hegemony, bullying and division, Xi said.

"The BRICS mechanism has demonstrated resilience and vitality. BRICS cooperation has achieved sound progress and results," he said. But at the same time, he called on the BRICS nations to reject the Cold War mentality and bloc confrontation, oppose unilateral sanctions and abuse of sanctions, in an apparent reference to the sanctions by the US, EU and their allies against Russia for its invasion of Ukraine.

"We need to encourage the international community to practice true multi-lateralism and uphold the international system with the UN at its core and the international order underpinned by international law," he said.

China has been critical of the Quad (US, India, Japan and Australia) and AUKUS (US, UK, Australia) alliances, alleging they were aimed at containing its rise. Addressing the BRICS Business Forum on Wednesday, Xi hit out at Washington and its allies for imposing sanctions against Russia for its invasion of Ukraine, saying the act of wilfully imposing curbs will harm people around the world.

Without naming the Quad and the AUKUS, the Chinese president lashed out at group politics and bloc confrontation, emphasising that they bring no peace or security and only lead to wars and conflicts. History has shown that hegemony, group politics and bloc confrontations bring neither peace nor stability, but rather war and conflict, Xi said.

"The Ukraine crisis is another wake-up call for all in the world. It reminds us that blind faith in the so-called 'position of strength' and attempts to expand military alliances and seek one's own security at the expense of others will only land oneself in a security dilemma," he said.

Criticising the sanctions against Russia for its invasion of Ukraine, Xi said the act of wilfully imposing sanctions will bring disasters to people around the world.

Putin ordered a "special military operation" against Ukraine on February 24. The US-led Western nations have imposed crippling sanctions on Russia for its invasion of Ukraine. China, a close ally of Russia, has declined to condemn Moscow for the invasion against Ukraine and maintained close political and business links.

Latest reports said China's crude oil imports from Russia has climbed to over 55 per cent from a year earlier last month, displacing Saudi Arabia as Beijing's top supplier.

Describing sanctions as boomerangs and double-edged swords, Xi said those who politicise, leverage and weaponise the global economy and wilfully impose sanctions by taking advantage of dominance in international financial and monetary systems will eventually harm others and themselves and bring disasters to people around the world.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)