EU includes Chinese companies in sanctions against Russia
The European Union (EU) has included Chinese companies on its sanctions list for the first time as part of the measures imposed on Russia due to the war in Ukraine.
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Ambassadors from the 27 EU member states have reached an agreement in principle on the 13th package of sanctions against Russia.
CHINESE FIRMS INCLUDED
For the first time, Chinese companies are among the entities added to the sanctions list under the package. Guangzhou Ausay Technology, Shenzhen Biguang Trading, and Yilufa Electronics, registered in mainland China, as well as RG Solutions, registered in the Hong Kong Special Administrative Region, have been sanctioned due to commercial ties that could provide military support to Russia in the war.
It is alleged that the companies helped and acted as intermediaries for Russian buyers to access products produced in Europe that have dual military and civilian use.
The sanctions package, the details of which have not yet been shared, is expected to be approved on February 24, the second anniversary of the start of the war.
The EU has so far implemented 12 sanctions packages against Russia. The sanctions against Russia cover a wide range of areas, including trade, finance, industry, technology, transportation, and dual-use and luxury goods.