Photo: Chinese President, Xi Jinping.
EU plans sanctions against Chinese firms for alleged support of Russia
European Union, EU, has proposed to put Chinese companies under sanctions for their alleged support of Russia’s military operation in Ukraine.
According to the report, the EU included seven Chinese electronic technology producers for selling their equipment, which could be used in weapons, to Russia.
The Financial Times report cited a new package of sanctions, which was yet to be discussed by the EU members.
The EU proposition, as quoted by Financial Times stated that “in view of the key enabling role of electronic components for use by Russia’s military.
“It is also appropriate to include certain other entities in third countries involved in the circumvention of trade restrictions.
“Also certain Russian entities involved in the development, production and supply of electronic components for Russia’s military and industrial complex.’’
The list of the companies to be put under sanctions includes 3HC Semiconductors and King-Pai Technology, already sanctioned by the U.S.
Others include Hong Kong-based Sinno Electronics and Sigma Technology, placed on the U.S. Treasury list that designates entities U.S. individuals and companies are prohibited to deal with.
The sanctions list, which is likely to increase tensions in relationship with China, also includes some Iranian companies for supplying Russia with drones.
The list also suggested sanctioning oil tankers, which conceal their location from the EU ports without reasonable excuses, for circumvention of Russian oil import embargo.
In order to go into effect, the list of new sanctions needs to be approved unanimously by 27 EU member states.
On Friday, Politico reported that the EU ambassadors would discuss the new list of sanctions proposed by the European Commission on May 10.
The West had stepped up sanctions pressure on Russia after the start of Moscow’s military operation in Ukraine.
Russian President Vladimir Putin has said the policy of containing and weakening Russia was the West’s long-term strategy, and the restrictions have affected the entire global economy.
Russian news agency, Sputnik, reports that in late February, the EU introduced its 10th sanctions package against Russia.
