Europe Proposes Sanctions on Chinese Firms Aiding Russian Oil Trade
Brussels – The European Commission has proposed a new round of sanctions targeting Chinese companies involved in the purchase of Russian oil products, escalating efforts to disrupt funding for Moscow’s war in Ukraine. The measures, announced Friday by European Commission President Ursula von der Leyen, aim to close loopholes and prevent Russia from circumventing existing sanctions through third-party nations.
Von der Leyen stated the EU is “going after those who fuelled Russia’s war by purchasing oil in breach of the sanctions,” specifically targeting refineries, oil traders, and petrochemical companies – including those in China. This marks the 19th package of sanctions levied against Russia since its full-scale invasion of Ukraine in february 2022, and requires unanimous approval from the 27 EU member states to take effect.
the move comes as the EU reports significant success in curtailing Russian oil revenue within Europe itself. “In three years, Russia’s oil revenues in Europe have gone down by 90 per cent. We are now turning that page for good,” von der Leyen declared, alongside an announcement of a ban on EU purchases of Russian liquefied natural gas and further sanctions on Russia’s oil sector.
While details remain confidential pending member state approval, the proposed package is expected to include a significant number of Chinese entities on a blacklist. The EU’s action reflects growing concern over China’s role as a key market for Russian energy, potentially undermining the effectiveness of Western sanctions designed to pressure Moscow to end its aggression in Ukraine.