EU targets Chinese firms in 19th sanctions package against Russia

The European Union’s upcoming 19th sanctions package against Russia will target four Chinese companies involved in the oil sector that are helping Moscow bypass Western restrictions, EU diplomatic sources said on October 22.

According to the sources, cited by Reuters, the measures will list two Chinese oil refineries, a Chinese trading firm, and another entity implicated in circumvention activities.

While the package’s text has been agreed by EU member states, its formal adoption has been delayed due to unrelated reservations from Slovakia, as EU sanctions require unanimous approval.

The new sanctions are set to include a ban on imports of Russian liquefied natural gas from 1 January 2027. The EU also plans to blacklist 118 additional tankers believed to be part of Russia’s so-called “shadow fleet” and to prohibit transactions with major Russian oil producers, Rosneft and Gazprom Neft.

European Commission chief diplomat Kaja Kallas previously indicated that the package would be finalised by the end of the week. She said it is expected to feature restrictions on the Mir payment system, a reduction of the Russian oil price cap, and a complete ban on transactions with Russian oil companies.

Since February 2022, the EU has regularly introduced sanctions against Russia, bundling various measures into successive packages aimed at exerting economic and political pressure.

By Tamilla Hasanova