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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

China will follow EU Russia sanctions negotiations and defend Chinese enterprises.

Chinese flag Photo Credit: Alamy Chinese flag Photo Credit: Alamy
Chinese flag Photo Credit: Alamy Chinese flag Photo Credit: Alamy

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China will follow EU-Russia sanctions negotiations and defend Chinese enterprises. On Thursday, commerce ministry spokesman Shu Jueting said China would closely follow EU debates on an 11th tranche of sanctions against Russia that may hinder trade with China.

The EU’s executive Commission has proposed restricting trade with sanction evaders for the first time.

“China firmly opposes unilateral sanctions that have no basis in international law and are not authorised by the Security Council as well as long-arm jurisdiction,” Shu said, urging the EU to “act prudently and not set a bad precedent.”
Germany is concerned about the new sanctions, which block many Chinese businesses and introduce a mechanism that might restrict EU exports to states that breach the laws.

The US-sanctioned electronics company King-Pai Technology for supplying Russia’s military-industrial complex.

Wednesday’s press conference in The Hague addressed sanctions circumvention.
Shu guaranteed Chinese enterprises’ normal trading privileges.


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