EU considering sanctions on Chinese firms supporting Russia’s war machine

This pool photograph distributed by Russian state owned agency Sputnik shows Russia’s President Vladimir Putin (R) and China’s President Xi Jinping heading to a group photo session during the third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on October 18, 2023.

Grigory Sysoyev | AFP | Getty Images

The European Union is looking to sanction Chinese firms that it believes have helped Russia circumvent Western penalties, looking to slap measures against these mainland China businesses for the first time since the war began, three EU officials told CNBC.

The 27-member bloc is working on a 13th package of sanctions in the wake of Russia’s full-scale invasion of Ukraine, which could be ready later this month to mark the second-year anniversary of the war.

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