MOSCOW, Oct. 11 (Xinhua) -- China and Russia have asked all relevant parties on the Korean Peninsula nuclear issue to exercise restraint and halt actions that could aggravate tensions in the region, read a statement released Wednesday.

The statement came after the eighth China-Russia consultation on security situation in Northeast Asia, which was co-chaired Tuesday by China's Assistant Foreign Minister Kong Xuanyou and Russia's Deputy Foreign Minister Igor Morgulov.

China and Russia have been closely following the situation on the Korean Peninsula, and they adhere to the goal of denuclearization of the peninsula, according to the statement.

The two countries called on all relevant parties to consider China's dual track approach and suspension for suspension initiative, as well as Russia's step-by-step approach.

China has put forward the suspension for suspension initiative, which requires the Democratic People's Republic of Korea (DPRK) to suspend its missile and nuclear activities in exchange for the suspension of large-scale U.S.-South Korean military drills.

China also proposed a dual track approach to denuclearization on the peninsula on the one hand and establishing a peace mechanism on the other.

The two diplomats urged related parties to return to dialogue and consultation.

They also reiterated Chinese and Russian opposition to the deployment of the Terminal High Altitude Area Defense (THAAD) system in South Korea.

China and Russia agreed to continue close communication and coordination to jointly deal with regional issues.