The countries of the European Union are thinking about introducing countermeasures in response to possible US and Chinese sanctions, the newspaper Handelsblatt writes.
According to the newspaper, the analytical center of the countries of the union – the European Council on Foreign Relations (ECFR) is engaged in the development of appropriate response measures. The initiative is led by representatives from Germany and France, and key officials, parliamentarians and specialists from the economic sphere are involved in the process.
In particular, they are discussing the creation of an EU export bank, designed to ensure the independence of the union countries from the United States. This is supposed to allow Brussels to impose retaliatory sanctions if necessary. In addition, the possibility of restrictions on the import of mobile phones from China is being considered.
On October 20, the United States announced the expansion of sanctions against the Nord Stream 2 project. The new measures have affected companies that help and finance the modernization or installation of equipment on pipe-laying vessels.
The first sanctions against the Russian gas pipeline were imposed by Washington at the end of 2019. After that, the European company Allseas, which provided the pipelayer for construction, refused to cooperate with Russia. In the summer of 2020, Washington threatened to expand the restrictions to cover companies that insure ships to complete construction and firms involved in retrofitting ships.
