China reiterated its call for a political resolution to the Ukraine crisis during a United Nations (U.N.) Security Council meeting on the situation in Ukraine on Monday, urging restraint and a return to peace talks.
Speaking at the meeting, Sun Lei, China's deputy permanent representative to the United Nations, said that military means cannot bring peace and that prolonging conflict will only cause more serious harm.
Sun emphasized that China has always maintained an objective and just position on the Ukraine crisis, and will continue to work with the international community to play a positive role in achieving a political solution to the crisis.
Sun outlined four expectations from China in light of the current situation:
First, China expects the parties concerned to put their people first, exercise maximum restraint and prevent the situation from spiraling out of control.
Second, China hopes that all relevant parties will resume the peace talks process as soon as possible and work toward a comprehensive, lasting and binding peace agreement.
Third, China expects regional countries and the international community to send more rational voices calling for a ceasefire and the promotion of peace talks.
Fourth, China urges all parties to work, in full and strict compliance with the principles of the U.N. Charter, to address the root causes of the crisis and build a balanced, effective, and sustainable regional security architecture.
China reiterates call for political solution to Ukraine crisis
The U.S. consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data released by the U.S. Bureau of Labor Statistics on Wednesday.
Notably, the energy index for May increased 3.9 percent month on month, accounting for over 60 percent of headline inflation.
Gasoline and fuel oil prices increased 40.5 percent and 58.9 percent year on year, respectively, in May.
The national average price of gasoline reached 4.555 U.S. dollars per gallon on May 20, a 50 percent rise since the Iran conflict started in February, according to data released by the American Automobile Association. The price later eased to 4.151 dollars per gallon on Wednesday.
The core CPI, which excludes volatile food and energy prices, increased 2.9 percent year on year in May.
Statistics show that U.S. headline CPI for May rose 0.5 percent month on month, down from 0.6 percent in April, while core CPI increased 0.2 percent, compared with a 0.4 percent gain in April and below the market consensus forecast of 0.3 percent.
The report arrives at a critical juncture for markets and Federal Reserve policymakers. While the rate-setting Federal Open Market Committee is widely expected to hold interest rates steady at its June 17 meeting, policymakers acknowledged that the inflation surge caused by the Iran conflict will likely delay any rate reduction. The data are likely to reinforce this stance.
Oil prices rose while U.S. stocks traded lower in the morning session on Wednesday after U.S. President Donald Trump posted on Truth Social that Iran has "taken too long to negotiate a deal" and will "have to pay the price."
U.S. May CPI rises to highest level since May 2023
