The EU executive has proposed to impose sanctions on several Chinese companies and restrict exports to countries deemed involved in circumventing trade restrictions imposed on Russia.
The 27 EU member states will hold the first discussion of a new EU sanctions package on Wednesday (May 10th), several diplomatic sources said on Monday.
As learned, the allies will consider measures aimed at combating the circumvention of existing trade restrictions by third countries, including China, Turkey, the United Arab Emirates, as well as countries in Central Asia and the Caucasus. .
The assets of seven Chinese companies could be frozen in the EU, diplomats familiar with the proposal have said in what would be the first time the bloc has taken action against China.
Chinese Foreign Ministry spokesperson Wang Wenbin said on Monday that China urges the EU not to take the “wrong path” and is ready to take action to protect its rights and interests. .
The Financial Times reported earlier on Monday that the companies included mainland China’s 3HC Semiconductors and King-Pai Technology, as well as Hong Kong’s Sinno Electronics, Sigma Technology, Asia Pacific Links, Tordan Industry and Alpha Trading Investments.
The EU could also expand the list of goods banned from transiting Russia to deprive Moscow of technology used in the production of weapons used in the fighting against Ukraine, the sources said.
Those involved in the deportation of Ukrainian children and the transfer of cultural property to Russia from the war zone in Ukraine will also be added to the blacklist, the sources said.
In the 11th round of EU sanctions against Russia since its invasion of Ukraine in February 2022, the bloc will introduce a new mechanism to curb exports to third countries deemed complicit in circumventing sanctions.
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