Bloomberg: The EU may impose sanctions against North Korean officials and Chinese partner firms of Russia

The European Union (EU) wants to impose sanctions against several Chinese firms that have helped Russian companies develop attack drones. North Korean officials are also likely to be subject to restrictions. Measures are considered within the 15th sanction package of the block.

This is reported by Bloomberg.

Some Chinese companies are already under the US and UK sanctions. The European Commission, as the agency writes, may limit even more Russian oil tankers in order to prevent Moscow from bypassing the existing restrictions. More than 45 tankers may close access to European ports and services.

Foreign ministers of the G7 countries will discuss measures against other countries that support Russiaʼs war in Ukraine at a meeting in Italy. EU measures will require the support of all 27 members of the bloc. Brussels proposes to impose restrictions on:

• a Chinese citizen whose company violated EU trade restrictions;
• a Hong Kong firm that provided prohibited microelectronic components to enterprises of the Russian Federation;
• officials of the Ministry of Defense of the DPRK involved in the countryʼs decision to deploy troops on the territory of Russia.

More than 50 individuals and almost 30 legal entities may be subject to sanctions within the 15th EU package. These are mainly military productions of the Russian Federation and companies that help them.

Other sanctions will affect Russian companies that transport oil, military personnel and entrepreneurs. The EU proposes to introduce trade restrictions on about 30 organizations that supply the Kremlin with prohibited technologies for the manufacture of weapons. The list includes companies from Russia, Serbia, Iran, India, Thailand, the United Arab Emirates, China and Hong Kong.

The EU also proposes a mechanism that would allow the central depositories of EU securities to unfreeze part of the funds kept in them, in connection with the growth of legal proceedings in Russia.

• The day before, Great Britain imposed sanctions against 30 ships of Russiaʼs shadow fleet. Over the past year, they have transported billions of dollars worth of oil and oil products.
• In November, the Bloomberg agency wrote that the European Union is working on a new package of restrictions against the Russian shadow fleet. Sanctions should be adopted by the end of 2024.
• In the previous, 14th package of sanctions against Russia, which the EU adopted in June, sanctions were imposed against 27 Russian vessels. Identical restrictions were introduced by the USA and Switzerland.

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