Home » EU Approves New Sanctions Against Russia, Targets Chinese Companies

EU Approves New Sanctions Against Russia, Targets Chinese Companies

by admin

EU Approves New Sanctions Against Russia, Chinese Companies Blacklisted

The European Union has approved a new round of sanctions against Russia, set to take effect on Saturday, the second anniversary of Russia’s full-scale invasion of Ukraine. This thirteenth round of sanctions will also for the first time target Chinese companies believed to have assisted Russia in acquiring banned items.

The sanctions come amid Russia’s advancements on the battlefield in Ukraine and the European Union’s growing criticism for failing to effectively curb Russian aggression with existing sanctions. The new measures will place nearly 200 entities and individuals on a blacklist, prohibiting them from traveling to or doing business in the EU and freezing their assets within the Union. These entities are accused of aiding Moscow in obtaining weapons or being involved in the abduction of Ukrainian children.

Of particular focus are companies from around the world suspected of supporting Russian military procurement, specifically within the supply chain for manufacturing drones. While most of these companies are from Russia, the sanctions also target three companies in mainland China, one company based in Hong Kong, as well as companies from Turkey and North Korea. Additionally, the EU plans to extend existing sanctions currently affecting about 2,000 companies and individuals for an additional six months.

EU High Representative for Foreign Affairs and Security Policy, Borrell, stated, “With this plan, we will take more actions against entities, defense and military sectors involved in circumventing sanctions.” European Commission President von der Leyen emphasized the need to weaken Putin’s war machine and exert pressure on the Kremlin while further restricting Russia’s access to drones.

See also  RENAULT TRUCKS The new low energy impact logistics platform will be operational in Lyon from 2028 - Companies

However, the new sanctions do not extend restrictions on Russian aluminum and do not cover those accused of responsibility for the death of Alexei Navalny, a prominent critic of Putin.

The European Union continues to stand firm in its efforts to deter Russian aggression and support Ukraine, but the effectiveness of these latest sanctions remains to be seen.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy