EU preparing new sanctions against Russia – Serbian companies targeted too

The European Union wants to sanction three Chinese companies due to their ties to Russia, according to reports by the Financial Times.

It’s also sizing up a business based in India and firms from Hong Kong, Kazakhstan, Serbia, Sri Lanka, Turkey, and Thailand, the outlets said, citing a draft proposal that hasn’t been made public yet.

The EU reportedly wants to ban companies from doing business with the listed parties, which it believes could be aiding the Kremlin in its war in Ukraine.

Member states voting through the plan would mark the first time that the trading bloc has imposed restrictions on Chinese and Indian businesses since Russia invaded its neighbour in February 2022.

In the aftermath of that attack, the EU, the US, and other Western countries rushed to sanction Moscow, by cutting Russia’s banks out of the SWIFT payments system and capping oil prices. The EU alone has imposed 12 sanctions packages over the past two years.

Meanwhile, China and India are yet to roll out similar restrictions and have instead stepped up their purchases of Russian crude oil.

In April 2023, European Commission president Ursula von der Leyen travelled to Beijing to warn China’s leader Xi Jinping not to support Russia’s war efforts.

(eKapija, 13.02.2024)

This post is also available in: Italiano

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