The Chinese mainland's commerce ministry voiced strong opposition on Tuesday to the European Union's latest decision to impose sanctions on several Chinese firms and individuals as part of its 16th sanctions package against Russia.
The ministry highlighted that these additional sanctions could severely disrupt the existing bilateral trade relations between the Chinese mainland and the European Union. Trade experts suggest that such measures might lead to increased tensions and hinder economic cooperation in key sectors.
Since the onset of the conflict involving Russia, the EU has been steadily expanding its sanctions regime, targeting various entities and individuals believed to be supporting Russian interests. The inclusion of Chinese firms and nationals marks a significant escalation, reflecting the EU's intent to address perceived economic ties between China and Russia.
Industry analysts express concern that the sanctions could result in decreased trade volumes, affecting industries ranging from technology to manufacturing. The Chinese mainland is expected to respond by seeking alternative markets and reinforcing trade partnerships within the region to mitigate potential losses.
Both parties have yet to engage in detailed discussions to resolve the tensions caused by the sanctions, leaving the future of EU-China trade relations uncertain.
Reference(s):
China opposes EU sanctions on Chinese firms, individuals over Russia
cgtn.com
