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The EU plans to impose sanctions against Chinese companies for the first time for helping the Russian Federation – media

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Bloomberg said the list also includes companies from Hong Kong, Serbia, India and Turkey.

The European Union, as part of a new package of sanctions, intends to introduce restrictions against Chinese companies for their assistance to Russia. We are talking, in particular, about two dozen companies, including three based in China and accused of supporting Russia’s military efforts in Ukraine. Bloomberg reported this on Monday, February 12.

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If passed, it would be the first time the EU has imposed restrictions on companies from China since Russia invaded Ukraine. The list also includes companies from Hong Kong, Serbia, India and Turkey.

The restrictions will prevent European firms from trading with listed companies.

The EU had previously offered to list some Chinese companies, but the proposals were rejected due to objections from some member states and after Beijing gave specific assurances.

“The issue is important for the EU, which considers Beijing one of its most important trading partners, and in particular for Germany, where China is the largest market for automakers, including Volkswagen AG,” the media notes.

The EU accuses technology and electronics companies of promoting Russia’s military and technological development or the development of Russia’s defense and security sector.

Proposals for the cap include three Chinese companies and one each from India, Sri Lanka, Serbia, Kazakhstan, Thailand, Turkey and Hong Kong.

As you know, the EU authorities expect to use the 13th package of sanctions against Russia on February 24. A new package of sanctions against Russia must be approved before February 24 – the second anniversary of Russia’s invasion of Ukraine.

It was earlier reported that the 13th package of sanctions may be the weakest of all adopted.

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Source: korrespondent

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