BRUSSELS, May 8 (Reuters) – The European Union’s executive has proposed blacklisting several Chinese companies and curbing exports to nations seen as involved in bypassing Russia trade restrictions under new sanctions against Moscow for the war against Ukraine.
The 27 EU member countries – which must all agree for new sanctions to be enacted – will have a first discussion on Wednesday on the proposal by the European Commission’s foreign policy unit, several diplomatic sources said on Monday.
The proposal focuses on combating circumvention of existing trade restrictions through third countries, the sources said, after the EU identified China, Turkey, UAE, as well as countries in central Asia and the Caucasus as potential culprits.
Seven companies in China would be subject to an asset freeze in the EU, said diplomats familiar with the proposal, in what would be a first for the bloc to punish China over accusations of Beijing’s role in Russia’s war in Ukraine.
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Source: https://www.reuters.com/world/eu-takes-aim-chinese-firms-third-country-exports-tighten-russia-sanctions-2023-05-08/
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