Hungary blocked another package of EU sanctions against Russia because of China - Financial Times

Hungary blocked another package of EU sanctions against Russia because of China - Financial Times

Hungary has blocked the approval of another package of EU sanctions against Russia because of China, the Financial Times reports.


At yesterday's meeting of EU ambassadors, Hungary was the only skeptic, disrupting the signing of the 13th package, which the EU wants to coincide with the anniversary of the invasion, i.e., to be adopted in the next 9 days.

The new sanctions package includes almost 200 individuals and organizations from Russia, China and other countries that are believed to be helping Moscow's military efforts. In particular, sanctions are proposed to be imposed on three Chinese companies and one Indian company.


"The Hungarians did not agree because of the Chinese companies," one of the officials said. 


Another added that Budapest's ambassador "asks for a little more time to analyze the content of the proposals."


The FT notes that an attempt to impose sanctions on third-country companies was already blocked by a group of countries last year. And if approved, this will be the first time that companies in mainland China and India will be affected by EU sanctions.


At this meeting, the ambassadors also agreed on the legal aspects of the €50 billion loan to Ukraine. Now it is necessary to get the approval of the European Parliament.





Hungary has blocked the approval of another package of EU sanctions against Russia because of China, the Financial Times reports.


At yesterday's meeting of EU ambassadors, Hungary was the only skeptic, disrupting the signing of the 13th package, which the EU wants to coincide with the anniversary of the invasion, i.e., to be adopted in the next 9 days.

The new sanctions package includes almost 200 individuals and organizations from Russia, China and other countries that are believed to be helping Moscow's military efforts. In particular, sanctions are proposed to be imposed on three Chinese companies and one Indian company.


"The Hungarians did not agree because of the Chinese companies," one of the officials said. 


Another added that Budapest's ambassador "asks for a little more time to analyze the content of the proposals."


The FT notes that an attempt to impose sanctions on third-country companies was already blocked by a group of countries last year. And if approved, this will be the first time that companies in mainland China and India will be affected by EU sanctions.


At this meeting, the ambassadors also agreed on the legal aspects of the €50 billion loan to Ukraine. Now it is necessary to get the approval of the European Parliament.