EU imposes sanctions on Chinese and Indian firms for the first time – FT

The European Union has approved a new package of sanctions against Russia, which, for the first time, is targeted at Chinese and Indian companies accused of supporting Moscow.

Source: Financial Times

The measures, constituting the 13th package of sanctions imposed by Brussels in response to Russia's full-scale invasion of Ukraine, target approximately 200 individuals and entities but do not focus on vital industrial sectors. 

The inclusion of Chinese and Indian companies in the sanction lists occurs at a time when the EU and its G7 partners are seeking to curb Russia's use of third countries and transit routes to circumvent existing restrictions aimed at hindering its military economy.

Documents reviewed by the Financial Times indicate that the measures apply to three companies in mainland China and one in India, as well as businesses in Sri Lanka, Türkiye, Thailand, Serbia and Kazakhstan. 

The companies will face trade restrictions if evidence is found of their assistance in supplying equipment, including electronics and microchips, utilised by Russia in the production of weapons or other equipment used in the war against Ukraine.

Background:

• On 21 February, the Permanent Representatives of the European Union agreed to approve the 13th package of sanctions against Russia, which is expected to be formally adopted by the second anniversary of the Russian invasion of Ukraine (24 February).

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