The EU is seeking to include restrictions against Chinese and Indian companies in a 13th sanctions package against Russia over the Ukraine conflict, to be unveiled later this month, the Financial Times has reported.
Two dozen firms, including three from China and one from India, could face trade penalties from Brussels, the paper said in an article on Monday.
Businesses from Hong Kong, Sri Lanka, Turkey, Thailand, Serbia and Kazakhstan are also on the list, it stressed, adding that the companies could not be named due to legal reasons.
If the proposal is approved by all member-states, it would see the EU sanctioning entities from mainland China and India, which are the bloc’s major trading partners, for the first time.
The companies are being targeted for allegedly helping Russia to circumvent restrictions imposed by the EU, especially through the supply of electronic components that can be repurposed for use in drones and other weapons systems, FT cited the plan as saying.