EU plans sanctions against Chinese companies that help Russia

The European Union plans to impose sanctions against Chinese companies that it accuses of selling equipment to support the Russian military machine.

This was reported by the Financial Times on Sunday.

Seven Chinese companies are in a new package of sanctions that EU member states will discuss this week, the publication said, citing a copy of the sanctions list.

According to the FT, the sanctions list includes two companies from mainland China, 3HC Semiconductors and King-Pai Technology, as well as five companies from Hong Kong, including Sinno Electronics, Sigma Technology, Asia Pacific Links, Tordan Industry, and Alpha Trading Investments.

Some companies, such as King-Pai Technology, have already been sanctioned by the United States. Washington said that the company is a Chinese supplier for many enterprises of the Russian military-industrial complex.

Since Russia launched its invasion of Ukraine 14 months ago, the EU has adopted 10 sets of sanctions against Russian individuals and entities, causing economic hardship and making it harder to finance Russia's war.

Author - Olena Madiak, 08/05/2023