EU prepares sanctions on China and India over support for Russia but skips tariffs
European Commission to add banks and refineries from China and India to blacklist (Illustrative photo: Getty Images)
The European Union is preparing to strengthen sanctions against Russia and introduce new restrictions on China and India, which help finance the Russian economy. Banks and refineries from China and India will be added to the EU blacklist, Handelsblatt reports.
It is noted that as part of the new package of sanctions against Russia, the European Union will add several Chinese and Indian banks, as well as oil refineries that process Russian oil, to the blacklist.
However, the EU will not impose additional tariffs on China and India, despite Washington's recent urging of Europe to take such steps.
New sanctions against Russia
US President Donald Trump stated that the United States is ready to impose severe sanctions against Russia. But he set a condition: all NATO countries must stop purchasing energy resources from Russia.
Among other things, Trump criticized Europe for "not tough enough" sanctions against Russia and for continuing to buy Russian oil. In this regard, Ukrainian President Volodymyr Zelenskyy stated that Europe has reduced imports of Russian oil and gas by 80%, but some countries still remain dependent on these resources.
Meanwhile, it became clear that the European Commission would not present the 19th package of sanctions against Russia on the scheduled date of September 17. The issue of new sanctions has so far been removed from the agenda. It is reported that the new package will be presented later, after coordination with the G7 countries.
Moreover, the EU plans to conclude a free trade agreement with India. This comes at a time when Washington is demanding that the EU and its allies introduce tariffs against India and China for purchasing Russian oil.
