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EU Proposes Sanctions Against Chinese Companies for Aiding Russian Aggression: Bloomberg

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The EU proposes to include three Chinese companies that helped the Russian Federation in the sanctions list, which would be the first time sanctions are imposed against Chinese companies for a war that Russia started.

About it writes Bloomberg.

The draft proposed sanctions still require approval from all member countries, some of which have previously blocked any inclusion of Chinese companies on sanctions lists.

If the decision is passed, it will be the first time the EU has imposed restrictions on companies in mainland China since Russia’s invasion of Ukraine.

It is noted that according to the draft proposal, which was reviewed by Bloomberg, the list also included companies from Hong Kong, Serbia, India and Turkey.

The restrictions will prohibit EU companies from trading with firms on the list.

The issue is critical for the EU, which considers Beijing one of its most important trading partners.

The names of the three companies are not disclosed, but they note that according to the document, companies primarily involved in technology and electronics are accused of “promoting the military and technological strengthening of Russia or the development of the Russian defense and security sector.”

Let us remind you:

Earlier, on February 8, it was reported that in the European Union offer introduce new sanctions against 55 companies and more than 60 individuals who assist Russian aggression against Ukraine.

ByteDance, which owns TikTok, threaten hefty fines as the European Union prepares to review new content moderation rules over concerns about risks to minors.

2024-02-12 15:41:11


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