“A Russian-drafted call for aid access and civilian protection in Ukraine that does not mention Moscow's role in the crisis failed at the U.N. Security Council on Wednesday,” said Reuters.

The news also mentioned that only Russia and China voted yes while the other 13 members abstained.

Market reactions

The news reveals China’s support to Russia, even though indirectly, which in turn becomes important as North Atlantic Treaty Organization (NATO) members accuse Beijing of helping Moscow in the Ukraine invasion. The same challenges the market sentiment and weigh on the AUD/USD prices at a four-month high.

Read: AUD/USD flirts with 0.7500 at four-month high as USTR news battles pre-NATO, US data caution