Economic relations between Russia and the United States have been reduced to almost zero, Russian President Vladimir Putin said.

Axar.az reports, citing Russian media, that Putin described the current state of economic ties between the two countries, saying, “Everything has almost been reduced to zero."

Putin was also asked about talks between the leaders of China and the United States. He said the two countries are the world’s largest economies and that any positive agreements between them should be welcomed.

Kremlin spokesman Dmitry Peskov said earlier that Russian presidential envoy Kirill Dmitriev continues contacts with U.S. negotiators, focusing on potential economic cooperation.

Peskov said such cooperation is not currently taking place, but there is an understanding that it could be mutually beneficial.