"Russia supported China's proposal on "double suspension" (suspension of missile and nuclear tests by Pyongyang in exchange for termination of US-South Korean military drills near North Korean border) as a starting point for political negotiations", the statement said.
The two countries gave the conditions at a high-level meeting on North Korea, attended by Ministers of Foreign Affairs of the 15-Member UN Security Council on Friday in NY.
The UNSC also called for "a political and diplomatic solution" to the issue during the meeting, the statement added.
"This Council must be united in its demand that the present course can not continue and Britain is proud today to have joined its allies to lead the enforcement of sanctions and seek a peaceful solution".
Both countries support the UN Security Council's resolutions imposing sanctions on Pyongyang and will never back North Korea's missile and nuclear programs as they pose a direct threat to security and also provoke the U.S. to increase defensive capabilities that "in fact have offensive potential", he said.More news: Chevron (CVX) Shares Leap After Q1 Earnings, Sales Beat
He says Russian Federation views the developing situation in the region "with alarm" and condemns Pyongyang's nuclear and ballistic missile tests.
Russian Federation and China share view that there is only a political and diplomatic solution to North Korea's nuclear program.
Gatilov said the Terminal High Altitude Area Defense (THAAD) had been deployed "in line with the vicious logic of creating a global missile shield", while warning that it is also undermining the security and deterrent capacities of adjacent states, such as China, thus threatening "the existing military balance in the region".
"Failing to act now on the most pressing security issue in the world may bring catastrophic consequences", he said.
The reported missile test came amid rising tensions in the region, where the United States is building up its military presence in response to an alleged North Korean "nuclear threat".More news: Turkey threatens further strikes on US-allied Syrian Kurds
"Diplomatic and financial levers of power will be backed up by a willingness to counteract North Korean aggression with military action if necessary".
Wang warned that "use of force. will only lead to bigger disasters". Additional patience will only mean acceptance of a nuclear North Korea. North Korea may already be able to strike its US -allied neighbors with a nuclear-tipped missile, and could have the USA mainland within range by the end of President Donald Trump's first term.
But the United States and South Korea both rebuffed the proposal just hours after Wang first made it in early March.
Beijing has come under growing US pressure to use its leverage as North Korea's largest trading partner and main source of food and fuel aid to compel Pyongyang to heed United Nations resolutions.More news: Kanye West won't got to MET Gala with wife Kim Kardashian