In the first quarter, China increased its total trade with Russia and Ukraine year over year. Beijing said economic cooperation with the two countries would remain normal. Total trade with Russia increased to 243 billion yuan (CZK 861 billion) in the January-March period, 27.8 percent more than a year ago. Trade with Ukraine grew to 29.6 billion yuan (105 billion CZK), which is an increase of 10.6 percent. Customs spokesman Li Kei-wen stated this at a press conference today.

Russia launched its invasion of Ukraine on February 24, which it called a “special military operation” necessary to defend the Russian-speaking population of Ukraine. Beijing has refused to call Russia’s actions an invasion and has repeatedly criticized what it calls illegal Western sanctions to punish Moscow, Reuters reports.

China’s economic and trade cooperation with other countries, including Russia and Ukraine, remains normal, Li said, noting the growing trend of trade with the two countries.

Even before Russia’s invasion of Ukraine, Russian President Vladimir Putin and his Chinese counterpart Xi Jinping announced in Beijing the conclusion of a large-scale strategic partnership aimed at combating United States influence. They said their country would not have any ‘nothing to do’ areas of cooperation. But analysts say they have so far seen no significant indication that China is violating Western sanctions against Russia.

Russia’s former finance minister and current head of the Accounting Chamber, Alexei Kudrin, said on Tuesday that the Russian economy could shrink ten percent this year. This would mark the biggest drop in gross domestic product (GDP) since 1994.

Ukraine’s economy will shrink 45.1 percent this year, according to a report published by the World Bank this week. The Russian invasion shut down businesses, reduced exports, and crippled economic activity in most countries.

The World Trade Organization (WTO) has lowered its forecast for world trade growth this year due to the effects of the Russia-Ukraine war. According to the new forecast, the volume of trade in goods will increase by three percent this year from the previously expected 4.7 percent. Next year, the pace of trade growth is expected to increase to 3.4 percent.