A Moscow-sponsored international economic forum is underway in Russia's Far East amid increasingly tough economic sanctions against the country over its invasion of Ukraine.

The ninth Eastern Economic Forum opened in Vladivostok on Tuesday. The event, which aims to develop the economy of the Far East, started in 2015.

Malaysian Prime Minister Anwar Ibrahim and Chinese Vice President Han Zheng are among world leaders expected to take part in the four-day event.

China's Foreign Ministry spokesperson said the country hopes Han's visit will help Beijing work with Russia to "deepen Northeast China-Russian Far East cooperation, and jointly advance the development of the region."

Russia wants to showcase its favorable ties with China and other countries amid its deepening confrontation with the West.

Russia also expects more than 40 business leaders, including those from China and India, to attend the event. Moscow apparently seeks to enhance trade and economic ties with nations that have not imposed sanctions against the country.

The forum will continue through Friday, with Russian President Vladimir Putin expected to deliver a keynote speech at a plenary session on Thursday.