File photo: Agencies

All countries need to "shoulder their responsibilities and work for peace" as tensions escalate over Ukraine, Chinese State Councilor and Foreign Minister Wang Yi said on Saturday.

Addressing the 58th Munich Security Conference via video link, Wang warned against attempts to hype up tensions and sensationalize the risk of war.

"The world is facing the risk of division and confrontation again," he warned, adding that "certain major countries" are reviving the Cold War mentality and stoking confrontation between blocs.

"We must strengthen solidarity and cooperation under the banner of multilateralism," he said, calling for joint efforts to tackle the challenges and usher in a bright future.