The European Commission has proposed a new package of sanctions against Russia over the war in Ukraine. The aim of the new measures is to restrict the circumvention of existing sanctions, Commission spokesman Eric Mamer announced on Monday. Because for the first time Chinese companies could also be affected, a warning was issued from Beijing.
If such sanctions are imposed, relations will deteriorate, the State Department said on Monday. China will then take decisive measures to protect its interests. “We reject any action that uses China-Russia relations as an excuse to harm trade cooperation,” the statement said.
Penalties for supplying dual-use items
According to a report in the Financial Times, the European Commission has now proposed sanctions in its eleventh package against seven Chinese companies – for exporting goods that could also be used to make weapons.
Precisely for this reason, some of the companies mentioned are already subject to US sanctions. According to reports, EU states want to discuss the new proposals from Brussels this week.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
