EU proposes sanctions on Chinese firms aiding Russian war effort
hl.co.ukWe don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.
Newsroom
Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.
HL Podcast
HL Insight
The EU is proposing to sanction companies in mainland China for the first time as part of its latest measures aimed at shutting down loopholes that allow Russia to route military technology via third countries to its weapons factories.
Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
Published by
14 Feb 2024
Three companies in mainland China, as well as four in Hong Kong and one in India, are on a 91-page document of companies and individuals who EU member states want to add to a growing sanctions list before the second anniversary of Russia’s invasion of Ukraine.
As the EU, the UK and US representatives prepare to meet in Brussels on Wednesday, a source said more tools were needed to ensure Moscow could not get around existing restrictions.
A source said: “Russia is straining every sinew to get around our sanctions but we need to do more. We need to shut down loopholes, target circumvention routes, drive down revenues further.”
The EU is particularly worried about technology being sold outside the bloc and then finding its way to Russia via third countries.
As part of the push, the EU’s diplomatic service has
Read more on hl.co.uk
