08.05.2023, 07:58
For the first time, the EU may impose sanctions against Chinese companies for supplies to Russia
Source: OREANDA-NEWS
OREANDA-NEWS The European Union is considering the possibility of imposing sanctions against Chinese companies, the Financial Times reported. These firms, according to Brussels, supply Russia with components that can be used in the creation of weapons. If the restriction can be agreed with all 27 countries of the Union, this will be the first case of their use against Chinese companies by the EU in anti-Russian sanctions.
The new 11th package of sanctions may include seven companies from China, two from the UAE, and one from Armenia. Among them are 3HC Semiconductors and King—Pai Technology from mainland China and five firms from Hong Kong — Sinno Electronics, Sigma Technology, Asia Pacific Links, Tordan Industry and Alpha Trading Investments. All of them are engaged in the development of semiconductors, microchips and electronics. The European Commission accused 3HC of trying to circumvent export controls when delivering American goods. The blacklist can also be expanded by Iranian firms.
Some of the companies listed in the document are already under US sanctions. As the FT notes, Brussels has so far avoided sanctions against China, as it has not seen evidence of arms supplies to Russia. The draft of the 11th package of sanctions notes the key auxiliary role of electronic components "for use by the military-industrial complex of Russia" in the conduct of hostilities in Ukraine. Brussels considers it appropriate to include organizations from third countries "involved in circumventing trade restrictions" in the black lists.
In the 11th package of sanctions, the European Union focused on closing opportunities to circumvent anti-Russian sanctions. According to media reports, the EU also intends to expand the ban on the transit of many goods through Russia.
The new 11th package of sanctions may include seven companies from China, two from the UAE, and one from Armenia. Among them are 3HC Semiconductors and King—Pai Technology from mainland China and five firms from Hong Kong — Sinno Electronics, Sigma Technology, Asia Pacific Links, Tordan Industry and Alpha Trading Investments. All of them are engaged in the development of semiconductors, microchips and electronics. The European Commission accused 3HC of trying to circumvent export controls when delivering American goods. The blacklist can also be expanded by Iranian firms.
Some of the companies listed in the document are already under US sanctions. As the FT notes, Brussels has so far avoided sanctions against China, as it has not seen evidence of arms supplies to Russia. The draft of the 11th package of sanctions notes the key auxiliary role of electronic components "for use by the military-industrial complex of Russia" in the conduct of hostilities in Ukraine. Brussels considers it appropriate to include organizations from third countries "involved in circumventing trade restrictions" in the black lists.
In the 11th package of sanctions, the European Union focused on closing opportunities to circumvent anti-Russian sanctions. According to media reports, the EU also intends to expand the ban on the transit of many goods through Russia.
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