Interaction between Russia and China is the most important factor in stabilizing international relations, Russian President Vladimir Putin said on Saturday.

Speaking at a press conference, Putin described cooperation between states like China and Russia as "undoubtedly a factor of deterrence and stability" in global affairs.

He noted that China is Russia's largest trade and economic partner, adding that bilateral trade diversification continues through high-tech industries, which is very important.

Putin also said that Russia and China have reached a high level of agreement to "take a serious step forward" in oil and gas cooperation.

On the Ukraine crisis, Putin said he is ready to meet with Ukrainian President Volodymyr Zelenskyy not only in Moscow but also in a third country, but only for signing an agreement on a final peace treaty.

"It is possible to meet in a third country, but only if final agreements are reached on a peace treaty, which should be designed for a long-term historical perspective, in order to participate in this event or sign something, but this should be the final point, and not the negotiations themselves," the Russian leader added.