EU Sanctions: Targeting China's Oil Sector for Russia Ties

The EU's 19th sanctions package against Russia includes four Chinese companies linked to oil industry circumvention. The list comprises two refineries, a trading firm, and another entity not primarily in oil. Adoption is pending due to Slovakia's reservations, but expected soon to impair Russia's war funding.

The European Union's impending sanctions package, aimed at curbing Russia's financial means, identifies four Chinese companies entangled in the oil sector that allegedly bypass Western restrictions. Diplomatic sources disclosed the inclusion of two Chinese refineries, a trading company, and a non-oil-exclusive entity, underscoring the EU's intensified scrutiny.

Although member states have finalized the sanctions text, Slovakia's unrelated objections have stalled its adoption. EU diplomats are optimistic that consensus will be reached, expecting the package to be implemented by week's end, aligning with efforts from G7 nations to deplete Russia's resources for its ongoing conflict with Ukraine.

The EU's strategic focus has expanded to scrutinize China's transactions involving Russian crude oil, paralleling UK's sanctioning of major Russian oil firms and several Chinese ports. This coordinated effort represents an international determination to cripple vital oil and gas revenues that fuel the war in Ukraine.

(With inputs from agencies.)