The EU is proposing to introduce sanctions against companies in China for helping Russia circumvent sanctions.
The new European measure aims at closing loopholes that allow Putin’s regime to import military or dual-use technology via third countries for weapons production.
Three firms in mainland China, four in Hong Kong, and one in India are on the draft document of companies and individuals that the EU plans to add to the blacklist before the second anniversary of Russia’s full-scale invasion of Ukraine.
The EU plans to ban European companies from doing business with the blacklisted Chinese firms.
In 2023, the EU proposed adding five Chinese firms to the sanctions list. However, the Chinese authorities opposed their inclusion and some EU member states were reluctant, resulting in their removal.
Media sources claim that this time, the Chinese companies involved in the circumvention of anti-Russian sanctions have been fully investigated. In addition, there has been communication between Brussels and Beijing on these cases.
Western nations, Ukraine’s allies, have estimated that existing economic sanctions against Russia for its war have already denied the Kremlin $400 billion in revenues.
Exporting sensitive technology produced in EU nations to Russia through intermediaries in third countries friendly to Moscow concerns the EU.
Electronics and microchips are finding their way to Russia. Putin’s troops employ these components in the missiles and drones to bombard Ukrainian cities.
The EU has already placed similar export bans on over 600 firms, including those based in Hong Kong, Armenia, the UAE, and Uzbekistan.
