“EU financial institutions will be forbidden to conduct any transactions with two regional creditors located near China’s border with Russia”, – WRITE: www.radiosvoboda.org
According to the suggested sanctions, the EU financial institutions will be prohibited from conducting any transactions with two regional creditors located near China’s border with Russia. Bloomberg does not name these banks because the measures have not yet been published.
Banks will be added to the list of financial institutions that have been stated, assisted by Moscow by “processing transactions or providing export funding for trading transactions” that bypassing EU sanctions, according to one of the documents. Some banks from the list also provided “crypto assets” that help Russia avoid sanctions, according to the document.
China has become a key factor that contributes to the Russian war in Ukraine as its companies supply Moscow’s limited details and technologies necessary for weapons production. The proposed package will also add several Chinese firms to those already under EU sanctions.
Beijing repeatedly denied the support of Moscow’s military efforts.
A spokesman for the Ministry of Foreign Affairs of China Lin Jian at the next briefing in Beijing said that interaction and cooperation between Chinese and Russian companies “comply with market and economic rules”.
“It is not directed against a single third party and should not be affected by any third party,” he added.
On June 10, the European Commission presented the 18th Package of Sanctions against Russia, which contains restrictions on Russian energy and financial sectors. In particular, it is proposed to prohibit the transaction for North Stream-1 and North Stream-2 and reduce the ceiling of oil prices from $ 60 per barrel to 45.