EU's latest sanctions against Russia include Indian, Chinese companies

A report suggested that the measures, which will be formally approved on February 24, will target three companies in mainland China and one in India

The European Union (EU) on Wednesday agreed on a new package of sanctions against Russia and individuals and businesses suspected of assisting Moscow in its war against Ukraine. According to a report by the Financial Times (FT), this includes Indian and Chinese entities for the first time.

In a post on social media platform X, the Belgian Presidency of the EU 2024 wrote, "EU Ambassadors just agreed in principle on a 13th package of sanctions in the framework of Russia's aggression against Ukraine."

"This package is one of the broadest approved by the EU. It will undergo a written procedure and be formally approved for February 24," it added.

This comes ahead of the second anniversary of Russia's full-scale invasion, which began on February 24, 2022. Also, it comes just days after the death of Russian opposition leader Alexei Navalny.

The FT report added that the measures will target three companies in mainland China and one in India. It also includes companies from Sri Lanka, Turkey, Thailand, Serbia and Kazakhstan. In total, sanctions are being imposed on 200 companies and individuals.

It added that these companies will be subjected to trade restrictions. Full details of the entities targeted will be revealed when the sanctions are published in the EU's legal journal.

According to the Associated Press, the measures have targeted the energy sector, banks, the world's biggest diamond mining company, businesses and markets and made Russian officials subject to asset freezes and travel bans.

Additional bans on exports of highly technical components for drone production to Russia were adopted.

"I welcome the agreement on our 13th sanctions package against Russia," European Commission President Ursula von der Leyen said in a post on X.

"We must keep degrading Putin's war machine. With 2,000 listings in total, we keep the pressure high on the Kremlin. We are also further cutting Russia's access to drones."