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EU Propounds New Sanctions on Russia, Involving Firms in China, Turkey
2024-04-25 11:07:50 The European Commission will impose sanctions on vessels that transport North Korean military equipment to Russia, as well as on oil tankers that violate the G7 price cap on Russian oil, Reuters reported. The European Commission's 14th sanctions package against Russia is in its final stage, and it plans to impose sanctions on "shadow fleets" that circumvent Russia's oil price cap, sources divulged. It is expected that 40 companies will be sanctioned, including Russian companies that purchase armaments and third-party companies that sell military electronic products and semiconductors. These companies involved are from the UAE, Kyrgyzstan, Turkey and China, selling European and American equipment to Russia. The report quoted sources as saying that the European Commission had held informal discussions with member states on the proposed sanctions. ~ AAStocks Financial News Web Site: www.aastocks.com | |