EU Set to Scrap Trade Curbs to Some Chinese Firms On Russia
- Companies were seen as supplying banned tech to Russian firms
- Three Hong Kong based firms on EU list, person familiar says
The European Union is set to scrap plans to restrict trade with five Chinese companies with alleged ties to Russia, as the bloc gets closer to an agreement on a stalled sanctions package targeting Moscow.
The bloc had drawn up a proposal to restrict exports to eight companies for allegedly supplying Russian firms with banned technologies. Five of those firms were removed from the list after assurances from Chinese officials, according to a person familiar with the matter. The EU is still considering plans to curb trade with three Hong Kong-based firms, the person added.
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EU Set to Scrap Trade Curbs to Some Chinese Firms On Russia