EU proposes sanctions against Chinese companies for aiding Russia - Bloomberg

The European Union proposes as part of a new package of sanctions to impose restrictions against three Chinese companies for their assistance to Russia. This was reported by Bloomberg, referring to the draft proposal familiarized with, the list also includes companies from Hong Kong, Serbia, India and Turkey, reports UNN.

"The European Union has proposed new trade restrictions on about two dozen firms, including three based in China, accused of supporting Russia's military efforts in Ukraine," the report said.

It is noted that if adopted, it would be the first time the EU has imposed restrictions on companies in mainland China since Russia invaded Ukraine.

The restrictions would bar European firms from trading with listed firms as part of the bloc's efforts to limit Russia's ability to obtain sanctioned goods through companies in third countries. The EU had previously proposed listing several Chinese firms, but those proposals were rejected due to opposition from some member states and after Beijing provided assurances.

Supplement

Western chips used for smartphones and laptops continue to find their way into russia and add to its military arsenal. Trade data show that Moscow is receiving an increasing amount of semiconductors and other advanced Western technologies through intermediary countries.