The European Union has launched an investigation into several major Chinese banks, alleging they have violated sanctions by financing Russia’s energy industry through a complex web of deals and transactions. The move comes as part of the EU’s efforts to curb Russia’s ability to buy influence in Eastern Europe.
The EU claims that some Chinese banks had provided loans to companies involved in Russia’s oil and gas sector, despite being subject to EU sanctions. The investigation is ongoing, with several Chinese banks facing potential fines or other penalties if found guilty.
This move highlights the growing tensions between the EU and China over Russia’s involvement in Eastern Europe. The EU has been increasingly concerned about Russian efforts to buy influence in the region, and this latest development suggests that Beijing may be involved in the process.
The investigation is part of a broader effort by the EU to strengthen its sanctions against Russia, following a series of high-profile attacks on Ukraine.
Source: https://www.ft.com/content/c60ee798-872b-44c4-ab1c-3f526dfce11e