The European Union has proposed new sanctions targeting Chinese companies that assisted Russian firms in developing attack drones used against Ukraine.
As part of the 15th sanctions package, the EU plans to add over 50 individuals and approximately 30 entities to the blacklist, freeze their assets, and impose travel bans within the EU. The list includes Chinese nationals overseeing companies that violated EU trade restrictions, a Hong Kong firm that supplied banned microelectronic components to Russian military companies, and North Korean defense officials involved in deploying troops to Russia. The sanctions primarily target Russian military manufacturers, a small group of Chinese firms supplying equipment to them, and others accused of collaborating with Russian companies to produce attack drones and providing key components such as engines.
The proposed measures, which are still subject to change, also include a ban on more than 45 Russian oil tankers from accessing European ports and services, as the EU and its allies work to cut Moscow’s oil revenues and limit its ability to circumvent the price cap on Russian crude. Additional sanctions will affect Russian oil transportation firms and numerous military and corporate leaders.The EU also proposes trade restrictions on about 30 entities accused of helping Moscow obtain prohibited technologies used in weapons discovered in Ukraine or essential to their production. According to the documents, these entities include firms from Russia, Serbia, Iran, India, Thailand, the UAE, China, and Hong Kong. Moreover, the EU suggests a mechanism allowing European securities depositories to unfreeze certain funds under their management due to a growing number of legal disputes in Russia.
Some Chinese companies targeted by the proposed restrictions are already under sanctions by the U.S. and the U.K. Approval of the sanctions requires unanimous support from all 27 EU member states.
