Around 20 companies in the EU's sights, including major trading partners

About 20 companies, including three from China and one from India, could face trade sanctions from the European Union (EU).

The EU may put businesses in mainland China and India on its sanctions list. (Source: Shutterstock)

In addition, businesses from Hong Kong (China), Sri Lanka, Türkiye, Thailand, Serbia and Kazakhstan are also on the new EU sanctions list.

The 13th package of EU sanctions against Russia is expected to be announced at the end of February.

If the proposal is approved by all member states, it would be the first time the EU has placed businesses in mainland China and India - the bloc's major trading partners - on its sanctions list.

According to the Financial Times , these companies are being targeted for allegedly helping Russia circumvent sanctions imposed by the EU, particularly with the supply of electronic components that can be repurposed for use in drones and other weapons systems.

“European companies will be banned from doing business with foreign companies on the blacklist. Measures imposed on Indian businesses ‘will be particularly sensitive because the country is a US ally and is negotiating a trade deal with the EU,” the Financial Times reported.

Earlier, Polish Prime Minister Donald Tusk said that the country would request the inclusion of fuel for nuclear power plants in the 13th package of sanctions.

The new sanctions package is expected to focus on preventing sanctions evasion, especially for goods that can be used in the military. The sanctions package will also involve a range of individuals and legal entities.

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