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24 Feb, 2024 05:10

EU punishes Chinese companies

Beijing has repeatedly said it remains neutral in the Russia-Ukraine conflict
EU punishes Chinese companies

The European Union has placed tighter trade restrictions on Chinese companies that it claims are supporting Russia, the European Council said in a press release on Friday.

The restrictions are part of a 13th round of sanctions imposed on Friday, a day before the second anniversary of Russia’s military operation against Ukraine.

A total of 27 new entities that allegedly provide direct support to Russia’s military and industrial complex have been targeted, according to the release. The entities are located in countries including China, India, Sri Lanka, Serbia, Kazakhstan, Thailand, and Türkiye, and have been involved in circumventing trade restrictions, the document states.

The entities will be subject to tighter export controls for dual-use goods and technology that may help Russia’s defence and security sector, it adds.

The US and Europe have repeatedly accused China of helping Moscow evade Western sanctions and supplying it with key technology and non-lethal assistance, such as helmets and body armor.

China reiterated last week that it remains neutral in the Russia-Ukraine hostilities and will not sell weapons to either side.

Since the outbreak of the conflict in February 2022, China has consistently called for a political resolution, and proposed a peace plan of its own last year, demanding a ceasefire and talks.

For more stories on economy & finance visit RT's business section

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