EU may list independent Chinese refineries in new Russia sanctions package
EU may propose new sanctions Friday targeting bigger firms helping Russia bypass restrictions including banks and refineries. - REUTERS
BRUSSELS: The European Commission is considering listing some independent Chinese refineries in its 19th package of sanctions against Russia over its invasion of Ukraine, EU officials who asked not to be named, said.
AI Brief
- The EU is expanding its sanctions to include larger companies aiding Russia, such as Chinese banks and India's Nayara Energy.
- Upcoming proposals may target banks in Central Asia and Chinese refineries suspected of buying Russian oil.
- All EU sanctions require unanimous approval from member states to be enacted.
The EU is ramping up the size of third country companies it lists from small, unknown shell companies moving dual-use goods to Moscow to established entities that aid Russia in circumventing Western restrictions. In its 18th package, the EU listed two Chinese banks and India's major Nayara Energy refinery at Vadinar.
The proposal is also expected to list banks in two central Asian countries.
The EU has been eying some Chinese refineries since the summer for possible Russian oil purchases from the already sanctioned shadow fleet. The sources did not provide further detail.
EU sanctions require unanimity from member states in order to pass.
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