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Pakistan's Premier Multilingual News Agency

EU imposes sanctions on Chinese companies

Brussels, 8 May 2023 (GNP): The European Union has suggested imposing sanctions on Chinese companies for allegedly selling equipment that could potentially aid Russia’s military efforts.

The Financial Times reported on Sunday that a new set of sanctions is being proposed, which includes seven Chinese firms. The EU member states will discuss the list of sanctions during the week, according to the report, which cites a copy of the sanctions list.

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

According to the Chinese foreign ministry spokesperson Wang Wenbin, China has advised the EU to refrain from making any incorrect decisions regarding the sanctions on Chinese companies.

Also ReadPakistan and EU vow to foster cooperation

If the EU takes the wrong approach, China will take decisive measures to protect its rights and interests.

During a routine press conference, Wang Wenbin stated that China does not support the use of China-Russia collaboration as an excuse for imposing illegal sanctions or exercising extraterritorial jurisdiction against China. The European Commission has not responded to this matter when requested for comment.

The United States has imposed sanctions on companies such as King-Pai Technology for supplying entities in Russia’s military-industrial complex.

This move has been made against the backdrop of Russia’s invasion of Ukraine, which has led the EU to impose 10 sanctions packages against Russian individuals and companies.

These sanctions have caused economic difficulties and hindered financing for the war effort. Putin had termed this invasion a “special military operation”.

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