Crypto News: When will Xi call Zelenskiy?

Nearly 14 months after Russia invaded Ukraine, Chinese President Xi Jinping has yet to pick up the phone to call President Volodymyr Zelenskiy.

There was talk of a potential chat soon after Xi visited Moscow last month to meet with Vladimir Putin. Zelenskiy has said he's ready to host Xi in person.

And yet ... nothing.

It's not from a lack of interest in Kyiv, even as Ukraine is dubious about Xi's fuzzy blueprint for talks on the war. Xi appears to be drawing closer to Putin, with his defense minister going so far as to praise the Russian president — wanted for war crimes — for "promoting world peace."

It's somewhat puzzling given Xi is keen to portray himself as a statesman, and China as an alternate power center to the US. He's recently hosted a clutch of senior European officials — including French President Emmanuel Macron — plus leaders from Africa and Latin America. He helped bring Saudi Arabia and Iran to the table.

Macron is eager to enlist China in a group push on a potential framework for talks between Russia and Ukraine — even as Kyiv gears up for a fresh offensive on the ground.

But Xi can't really play a leading role without speaking with Zelenskiy. So what is holding him back?

It might be Xi feels he gets enough upside from circulating his blueprint, versus signing up to be an actual party to peace talks. By stepping in directly he'd be on the hook, risking getting his hands burned by failure.

In some ways the conflict may also suit Xi even if he has not directly endorsed Putin for his war. He has used it to drive a wedge between Ukraine's vocal supporters among Group of Seven nations and those in Africa, Asia and Latin America who have taken a more ambiguous stance.

The call may yet come. But it's telling that Xi has been so reluctant to make it. — Rosalind Mathieson

Zelenskiy attends the funeral of a fallen military commander in Kyiv on March 10. Photographer: Andrew Kravchenko/Bloomberg

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