EU’s Russia sanctions to target companies in Vietnam and Turkey

Unlock the editor’s digest in free

FT editor Raula Khalaf selected his favorite stories in this weekly newsletter.

The European Union has banned sanctions against Vietnamese, Turkish and Serbian companies that have been accused of avoiding the ban on Russia in taking the 17th action against Moscow since the full-scale invasion of Ukraine.

The proposed ban is also aimed at the “shadow fleet” of Kremlin and 149 oil tankers in Russia and China, also informed four Financial Times, known by the initiative.

These steps are aiming to maintain pressure on Moscow and Europe is feared that US President Donald Trump can move away from UkraineSo far after the little success in the attempt to attack the ceasefire.

Some of the EU senior officials also see the proposal as Hungary’s supporter Premier Premier Victor Orban’s hunger test, before a critical vote in July, where Budapest could finish all economic measures against Moscow.

Hungary Earlier, all the EU ban against Moscow had threatened to veto the annual rollover of twice the ban, before they were finally agreed. However, diplomats say that after the US president calls for peace in Ukraine and calling for new economic relations with Russia, Trump has strengthened the determination to use his veto.

The package shared with EU capitals on Tuesday will be discussed by Ambassadors on Wednesday, of course, be approved by 27 EU members and may be corrected.

Recent EU Rescue Packages have originally tried to strengthen the existing economic restrictions and close methods to avoid these measures among the third countries.

Officials say more than 17th package will help Russia to avoid sanctions to more than 20 new companies, officials said. There are about one dozen countries in the UAE, Türkiye, Serbia, Vietnam and Uzbekistan. A Vietnamese company will be approved for the first time by Brussels to assist Kremlin.

Serbia, a country in the EU, has strongly condemned the view by Brussels and many member countries to refuse to adjust to Russia.

The package also adds a number of dual-use products that have potential military applications such as chemicals and machine equipment components in Russia’s banned export list. It has called for a concession for the Sakhalin project in Russia, that important oil and gas suppliers for Japan will be extended till June 20226.