EU weighs sanctions on Chinese banks over Russia ties

Sanctions are planned against two Chinese banks. Yes, small ones. Yes, near the border with Russia.

But it is through such banks that the Russian military-industrial complex pays Chinese companies for the supply of what is necessary for weapons production.

And in my memory, this will be the first case of sanctions against Chinese banks involved in servicing Russian military transactions.

Of course, this is not yet a voted package. 

"Hungary, the main European recipient of Chinese "investments," may make efforts to ensure that they are not on the final list."

And negotiations between Brussels and Beijing on new Chinese export restrictions on the supply of rare earth elements are ongoing, which is a strong card in the hands of the PRC.

However, it is important that Brussels once again emphasizes to Beijing that a ticket to the European trade club means refusing to support the Russian military-industrial complex.

Source

About the author: Ahiia Zahrebelska, lawyer, State Commissioner of the Antimonopoly Committee of Ukraine (2015–2019), Director of Partnerships and Cooperation of the REC.

The editors do not always share the opinions expressed by blog authors.