Contact Members/Sign Up Reg Form

EU Mulls Restrictions on Indian, Chinese Firms Over Alleged Support for Russia: Report


The EU has unveiled plans for trade restrictions on approximately two dozen companies, including three from China, alleging support for Russia's actions in Ukraine. If approved, it would be the EU's initial imposition of constraints on mainland Chinese firms since the onset of the Ukraine conflict. The targeted list extends to companies in Hong Kong, Serbia, India, and Turkey, with some facing scrutiny for the first time, according to a draft proposal viewed by Bloomberg. The objective is to prevent European companies from trading with these entities, hindering Russia's access to sanctioned goods through third-country firms.

Previously, the EU considered Chinese firms for sanctions, but these were dropped due to resistance and assurances from Beijing. The sanctions require unanimous approval from member states and may undergo modifications before implementation. The targeted firms, primarily in technology and electronics, stand accused of contributing to Russia's military and technological capabilities. The proposal also introduces sanctions on over 110 individuals and entities as part of measures commemorating two years since Russia's invasion of Ukraine.

The inclusion of Chinese firms is noteworthy, given the EU's reliance on China as a significant trade partner, particularly for Germany, with China being the largest market for carmakers like Volkswagen AG. During a visit to Beijing in April, Commission President Ursula von der Leyen cautioned Chinese President Xi Jinping against involvement in the war and urged China not to supply any military equipment to Russia. The proposed list encompasses firms from China, India, Sri Lanka, Serbia, Kazakhstan, Thailand, Turkey, and Hong Kong. The document clarifies that inclusion in the proposed list does not attribute responsibility for actions to the respective jurisdictions.

The companies on the list primarily engage in importing banned technologies and electronics, subsequently reexporting them to Russia. The EU's broader sanctions package aims to curb Russia's access to crucial goods through third-party entities while navigating complex diplomatic and economic relations, particularly with China. The situation underscores the EU's strategic efforts to balance the containment of Russia with diplomatic considerations and economic ties with key partners.


(Aside from the headline, DXB News Network staff have not made any edits to this story; it is published from a syndicated feed)

Feb. 15, 2024 11:47 a.m. 1414

#EUSanctions #ChinaTrade #RussiaUkraineConflict #GlobalDiplomacy #TradeRestrictions #EUChinaRelations #InternationalRelations #TechSanctions #EconomicSecurity #Geopolitics #breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn

Pregnant Woman Among Civilian Casualties in Ukraine-Russia Strikes

global news / world news
April 20, 2024 6:07 p.m. 437

Cross-border Attacks: 3 Dead in Russia, 2 Killed by Russian Strike in Ukraine...Read More.

Israeli Strike on Rafah Kills Nine, Including Six Children

global news / world news
April 20, 2024 6:01 p.m. 451

The remains of the six minors, two females, and one male were transported to Rafah's Abu Yousef al-Najjar hospital, as indicated by the hospital's documentation...Read More.

Pregnant Woman Among Civilian Casualties in Ukraine-Russia Strikes

Cross-border Attacks: 3 Dead in Russia, 2 Killed by Russian Strike in Ukraine

Israeli Strike on Rafah Kills Nine, Including Six Children

The remains of the six minors, two females, and one male were transported to Rafah's Abu Yousef al-Najjar hospital, as indicated by the hospital's documentation

UAE President Honors Eight with Abu Dhabi Awards

The Abu Dhabi Awards honored UAE champions in education, sustainability, medicine, and beyond.

Verstappen Clinches Chinese GP Pole After Sprint Triumph

Max Verstappen sealed a flawless day by setting the fastest lap of 1 min 33.660sec, following his victory in the sprint race at the Shanghai International Circu

Shehnaaz Gill Stuns in Black Blazer, Radiates Glam on Social

Shehnaaz Gill sparks social media craze with chic black blazer, oozing glamour and sophistication

Iraq Popular Mobilization Units Members Killed in Base Blast

Explosion at Kalsu base near Baghdad kills one PMU member, injures eight

Dubai's DEWA Unveils Second Infrastructure Manual

17 New Project Types Added in Latest Edition, Totaling 67 Projects

Satellite Data Reveals China's Sinking, Threatening One-Third of Population

Satellite data reveals alarming sinking in China: 45% of urban areas affected.

Dubai Residency Processes 400,000 Passengers Amid Weather Emergency

Dubai Residency Completes Procedures for Over 400,000 Passengers Amid Emergency Weather Conditions

Ease My Trip Shares to Garner Attention Next Week in Stock Market

EaseMyTrip injects ₹33 crore into Mumbai's B2B travel agent, Etrav Tech, in strategic investment move.

Vondrousova's Composure Prevails as She Upsets Sabalenka in Stuttgart Open

Swiatek, the world number one, maintained her flawless tournament record with a commanding victory over Briton Raducanu, extending her run to 10-0.

Disha Patani rocks casual chic at airport in crop top and denim bermuda shorts

Disha's airport ensemble with Bermuda shorts and a crop top exudes freshness and style.

Emirates Airline Returns to Normal Flight Operations; Tim Clark's Open Letter

Clark mentioned, "Clearing the backlog of rebooked passengers and bags will require a few more days.

AI Expert Predicts "Fundamental Change" in News Ecosystem

Journalism has struggled over the past decade or more, lacking a credible vision for its future within the realm of social media," he stated.

Malaysia set to reveal towering landmark surpassing Burj Al Arab

Reaching 325m at its peak, the new tower will surpass Burj Al Arab, matching the height of the Eiffel Tower.

Morgan Wallen Breaks Silence After Nashville Arrest for Chair Incident

Morgan Wallen expresses remorse, takes responsibility, and acknowledges he's not proud of his actions in Nashville incident.

Emirates and Flydubai Resume Normal Operations at DUBAI Airport

Emirates halted check-in for transit passengers from Dubai, while FlyDubai adjusted its flight schedule by canceling some flights.

IREDA Q4 Results: Net profit surges 33%, net interest income rises 35%

IREDA, under Ministry of New and Renewable Energy, saw its shares close at ₹160.80, down by ₹2.30 (1.41%), on the BSE.

Ex-India Star Criticizes Punjab Kings Strategy in Loss to Mumbai Indians

Aakash Chopra expressed dissatisfaction with Punjab Kings' chase approach, criticizing their use of Shashank Singh during the IPL 2024 loss to Mumbai Indians.

Get In Touch

3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE

+971 56 450 3476

Follow Us

© DNN. All Rights Reserved.