Moscow, May 10 -- Interaction between Russia and China is the most important factor in stabilizing international relations, Russian President Vladimir Putin said.

Speaking at a press conference on Saturday, Putin described cooperation between states likeChina 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 Volodymy...