The EU wants to impose sanctions on Chinese companies that support the war in Ukraine. Beijing is threatening countermeasures.
The EU Commission wants to introduce the first sanctions against Chinese companies for supporting the Russian war of aggression against Ukraine. Accordingly, the assets of seven Chinese companies in the EU are to be frozen, as several Brussels diplomats said on Monday.
However, such a step must be decided unanimously by the 27 member states, which are said to be discussing the proposal for the first time on Wednesday. In addition to China, the proposal also targets Turkey, the United Arab Emirates and countries in Central Asia and the Caucasus region.
China wants to take action
As a precaution, the government in Beijing warned the EU against imposing sanctions in connection with the war against Ukraine. If such a step were taken, bilateral relations would deteriorate, the Chinese Foreign Ministry said on Monday.
China will then take decisive action to protect its interests. The government in Beijing rejects any action that uses relations between China and Russia as an excuse to damage trade cooperation. The federal government did not want to comment on the Brussels plans on Monday.
These companies are affected
According to a report in the Financial Times, the EU Commission’s plans will affect 3HC Semiconductors and King-Pai Technology in mainland China, as well as Sinno Electronics, Sigma Technology, Asia Pacific Links, Tordan Industry and Alpha Trading Investments in Hong Kong SAR be. Goods exported by these companies to Russia can therefore also be used for the manufacture of weapons. Some of the companies have already been sanctioned by the USA for this reason.
China’s Foreign Minister Qin Gang is expected in Berlin on Tuesday and Wednesday. A meeting with Foreign Minister Annalena Baerbock is planned for Tuesday, according to a spokesman for the Federal Foreign Office in Berlin. On Wednesday, Qin has an appointment with the foreign policy advisor at the Chancellery, a government spokesman added.
The German-Chinese government consultations on June 20 are also to be prepared in the talks. Finance Minister Christian Lindner meanwhile canceled a planned trip to China this week on Monday – Beijing said it had scheduling difficulties. Read more about it here.