The European Union adopts a new package of sanctions against Russia that will also affect China
Two small regional banks in the People’s Republic of China could be subject to sanctions by the European Union (EU). It wanted to include them in the 18th package of sanctions against the Russian Federation, because Brussels believes that the banks have helped Moscow circumvent the current EU restrictions, Bloomberg reports. The essence of the restrictions is that European financial institutions will not be able to carry out transactions with the two Chinese banks located near the Russian-Chinese border. The names of the banks were not mentioned.
Instead, it is specified that these credit institutions assisted Moscow by processing transactions and financing exports. The documents indicate that banking operations with cryptocurrencies were used to facilitate the import of goods that fall under existing EU restrictions and provided services for crypto assets.
On June 10, the President of the European Commission (EC), Ursula von der Leyen, announced that the 18th package of sanctions is already under preparation and will include restrictive measures on both the Nord Stream pipeline and against 70 oil tankers considered to be involved in supplying Russian oil, bypassing the price ceiling.
The EC proposals also include a ban on EU countries purchasing oil products from Russian raw materials and the disconnection of another 22 Russian banks from the SWIFT bank payment system.
Von de Leyen stressed that Europe will increase pressure to force Russia to peace, because ,,force is the only language Moscow understands’’.
