EU proposes sanctions on Chinese firms aiding Russia in war, Bloomberg
Illustrative photo (Getty Images)
The European Union prepares a new sanctions package targeting Chinese and Russian companies involved in the development and supply of strike drones used in the war against Ukraine, according to Bloomberg.
The measures include freezing assets and imposing travel bans on over 50 individuals and around 30 legal entities.
Among them are a Chinese company that violated EU trade restrictions, a Hong Kong firm supplying banned microelectronic components to Russia, and North Korean defense officials supporting Moscow's military actions.
The European Commission has also proposed restricting access to ports and services for 45 Russian oil tankers to increase pressure on Moscow's revenues. In addition, the list includes companies supplying key components for strike drones.
Foreign ministers of the G7 countries, who are discussing measures against states supporting Russia in Italy, have expressed their readiness to back the EU initiative. However, all 27 EU member states must approve the new sanctions package.
China, which seeks to maintain neutrality and economic ties, has repeatedly denied involvement in armed support for either side of the conflict. However, Western experts fear that Beijing may be moving closer to providing military assistance to Russia.
Earlier, the United States and the United Kingdom imposed sanctions on certain Chinese firms linked to the supply of banned technologies to the Russian military. The new EU sanctions package will be the 15th since Russia's full-scale invasion of Ukraine.
Sanctions against Russia
The European Union is preparing its 15th sanctions package against Russia in response to its military actions in Ukraine. The new restrictions aim to isolate Kremlin industries from imports further and prevent circumvention of earlier measures.
In October, the Council of the European Union decided to extend the new sanctions regime against Russia every 12 months.
