EU Imposes Sanctions on Multiple Turkish and Chinese Companies

The European Union (EU) is imposing restrictions on seven Chinese and four Turkish companies as part of new sanctions against Russia. This was reported by the Euractiv portal, citing sources.

According to the publication, the sanctions will affect 11 companies in third countries, seven of which are in China (three in Hong Kong) and four in Turkey. On July 18, the EU Council approved the 18th package of anti-Russian sanctions.

As reported by Reuters, citing sources, the new package includes a reduction of the price cap on Russian oil to around $47.6 per barrel. The 18th sanctions package also imposes a ban on the importation of oil products based on Russian oil into EU countries. This ban will specifically relate to oil-based fuels for vehicles and aviation, as well as heavy fuel oil. Additionally, export restrictions will be imposed on dual-use equipment.