A rift is growing between Xi and Putin after Russia mocked a Ukraine peace plan backed by China

• Xi is frustrated that Putin won't seek peace in Ukraine, reports say.
• China has touted a 12-point peace plan for Ukraine that Russia hasn't pursued.
• China recently attended a peace summit in Saudi Arabia that was described by Russia as "doomed to fail."

China's President Xi Jinping has been Russian President Vladimir Putin's most important international backer amid the war in Ukraine, with the authoritarian leaders declaring a "no limits" partnership at the outset of the conflict.

But as the war drags on, it seems that China's patience with the Kremlin may be beginning to wear thin, according to reports.

A Russian insider told think tank The Institute for the Study of War that Moscow had rejected a 12-point peace plan touted by China in February.

They added that members of the Chinese elite are growing increasingly frustrated with the Kremlin's intransigence.

According to The Financial Times, Chinese diplomats at a summit to discuss a potential resolution to the conflict in Jeddah, Saudi Arabia last weekend were keen to show that "China is not Russia." A European diplomat present at the discussions told the FT that the "mere presence of China shows Russia is more and more isolated."

For its part, Russia mocked the meeting, saying it was "doomed to fail."

Xi and Putin bond over opposition to US

China has provided Russia with vital diplomatic and economic support during the conflict, handing Putin a lifeline at a time when Western nations severed their economic ties to Russia, and sought to isolate the state over its actions in Ukraine.

Analysts have told Insider that Xi and Putin share a deep resentment of US global power, and Xi sees the Ukraine war as a way of delivering a blow to the US, Ukraine's most important international backer.

But core differences remain between the leaders. Xi has so far not provided Russia with the military support it's requested in Ukraine, and has aggravated Moscow by refusing to approve a new gas pipeline from Siberia that'd give the Kremlin's revenues a crucial boost.

China has also shown signs of being rattled by June's Wagner fighter uprising against the Kremlin, and is anxious about Russia's nuclear threats against its Western foes.

China's attendance at the Jeddah summit is a further indication of the growing distance between Moscow and Beijing.

Experts believe that China is attempting to perform a balancing act, offering key backing to Russia while seeking not to aggravate Ukraine's European allies, whose economies Beijing relies on.

"It aims to demonstrate to the West that it is interested in advancing a diplomatic settlement to the war—and to remind the West that it may be the only country capable of inducing Russia to change course. It also hopes to earn plaudits beyond the West," Ali Wyne, an analyst with the Eurasia Group, told Insider.

China had refused to attend a June summit held to discuss Ukraine's peace demands in Denmark. Its plan to end the war had been dismissed by the US as hugely biased in favor of Russia and as an assembly of Russian talking points.

But participants at the Saudi conference hailed China's attendance as a massive win for Kyiv in its bid to diplomatically isolate Russia, the FT reported, with China reportedly agreeing to attend future conferences.

Analysts believe that Xi sees important clout to be gained in playing the role of international peace broker, and has successfully mediated recent discussions between longtime regional foes Iran and Saudi Arabia.

But Wyne cautioned against excessive faith in China's intervention to secure peace in Ukraine.

There is little evidence "that China will fundamentally recalibrate its ties with Russia in an attempt to end the war," he said. "Beijing believes that its relationship with Moscow can help it to offset growing military and economic pressure from the West."