An unexpected, Trump-like move by Ukraine - Kyiv is imposing sanctions against 4 Chinese companies, the investors of Motor Sich. The sanctions include asset freezes, restrictions on trade operations, cessation of flights & traffic for 3 years. rnbo.gov.ua/ua/Ukazy/4793.…
After Ukraine's sanctions against Russia, Motor Sich lost its main export market and was in dire need of investments. In 2016, Chinese Skyrizon bought 56% of the company's shares, but Ukraine's Security Service seized them under US pressure.
In December 2020, the investors appealed to international arbitration against Ukraine to recover damages in the amount of $ 3.5 billion due to the seizure of shares and blocking access to the management of the company.
The move will aggravate Kyiv's relations with Beijing. Ukraine remains one of the main suppliers of arms to China and in 2019, China overtook Russia as Ukraine’s largest trading partner. Ukraine also profits from the US-China trade war and is the key supplier of corn.
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The European Commission has published a new strategy that aims to build and reinforce its "open strategic autonomy". What does it mean for EU sanctions? A thread🧵 ec.europa.eu/finance/docs/p…
What is an "open strategic autonomy"? The Commission defines it as an ability "to promote and defend rules-based multilateralism and develop beneficial bilateral relationships, while protecting itself from unfair and abusive practices." /1
Why is there a need for open strategic autonomy now? The reason lies in a major shift in geopolitics, particularly in the technological sphere. The coronavirus crisis has added to the urgency of strengthening the EU's economic and financial system. /2