The European Union plans to implement trade barriers against around 24 companies. This includes three from China. The restrictions are allegedly imposed for alleged assistance to Russian military actions in Ukraine.
If the measures are accepted, it would be the first time the EU has imposed restrictions on mainland Chinese businesses since Russia’s invasion of Ukraine began.
The draft proposal, which Bloomberg had access to, reveals that the list includes entities from Hong Kong, Serbia, India and Turkey.
The proposed sanctions aim to prevent European companies from doing business with the identified individuals, as part of a strategy to thwart Russia’s acquisition of embargoed goods through intermediaries in third countries. Although the EU previously considered imposing sanctions on various Chinese companies, these plans were abandoned due to opposition from some member states and assurances from Beijing.
I’m posting this ICYMI.
MDR, “Beijing insurance”. I hope they were written on toilet paper so at least they served a purpose.