Putin says ball in US's court for improvement in ties: Ifax

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"Signing the agreement itself will take time as much work needs to be done here but it is the first step towards establishing a large regional economic union", Putin said, adding that this union "is compatible with the EAEU [the Eurasian Economic Union] that we have been developing and China's Silk Road initiative.".

"Once again, nothing concrete was said", Putin said, referring to the G-7 statement.

The G7 endorsed Britain's accusation that Moscow was behind the poisoning attack in the southwest of England on former double agent Sergei Skripal and his daughter Yulia. "We have the recent example of United States unilateralism and its defiance of the global community when the U.S. pulled out from the JCPOA", he said. But Russia was suspended from the group in 2014 after it annexed the Crimean peninsula from Ukraine.

The meeting with China's president Xi Jinping took place on Sunday on the sidelines of the Shanghai Cooperation Organization summit in the eastern coastal city of Qingdao, and comes at a time when Iran faces reimposition of sanctions by the USA, which could impact its crude oil exports.

Rice said that the U.S finds itself in a "very risky moment" as Trump appears to be further embracing Russian Federation, saying his actions and rhetoric "leave the USA isolated in the world" and our closest allies "wondering if they can count on us and we on them".

Russian President Vladimir Putin's state visit to China was successful, according to Chinese Foreign Ministry spokesman Geng Shuang.

As in the past, Putin took issue with the phrase "highly likely", saying that G7 nations' solidarity was based on "flimsy ground".

"Russia should be in this meeting", Trump told reporters before leaving the White House South Lawn for Canada, where the summit is being held.

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While the 17-year-old Shanghai Cooperation Organization has increasingly extended into trade and economic cooperation - the G-7's central focus - it was founded as a security group.

Speaking to reporters in Qingdao, China, Putin said that some nations, including Austria, have offered to host his summit with Trump, should they have one.

He emphasized the need for the group to closely follow the situation in Afghanistan to fend off the threats posed by militants in the country.

Russian and Putin have met at a formal bilateral meeting in Germany and on the sidelines of a leaders' summit in Vietnam. In this regard, the United States' attempts to impose its own policies on others is a growing danger.

Putin says "Russia welcomes the planned summit of the USA and North Korea and notes China's big contribution to helping settle the crisis on the Korean Peninsula".

On May 8, Trump announced Washington's withdrawal from the Iran nuclear deal.

He, however, added that the combined purchasing power of the Russian Federation and China-led Shanghai Cooperation Organisation (SCO), a meeting of which he was attending in China, outstripped the G7. The bloc includes China, Russia along with four ex-Soviet Central Asian nations, as well as India and Pakistan.