Beijing — which has refrained from condemning Russian military action in Ukraine or calling it an invasion, or speaking with Zelenskyy since the hostilities broke out — wants to use the opportunity to burnish its status as a global peace broker, navigate escalating competition with the US, and capitalize on the momentum from the Saudi-Iran deal. While it may cast itself as a neutral mediator, China would ensure the talks tilt in favor of Russia — its "no limits" partner.
China officially regards Ukraine as a sovereign nation, while it was Ukraine’s largest trading partner before the war. If Xi Jinping calls for respecting the sovereignty of all countries and warns Moscow against escalating the conflict with nuclear weapons, his proposal to end the war must be given a chance. Given the appalling human cost of the war, the world must consider the proposal carefully instead of dismissing it outrightly. The PRC could potentially play a vital role in resolving this horrific conflict.
There is a 5% chance that Ukraine will receive a security guarantee from another country before 2024, according to the Metaculus prediction community.