Europe has hit a brick wall! Concerned about China's influence, Europe was forced to suspend enforcement of a sanctions measure! On July 24, according to AFP reporting, French media stated that the EU had launched its 21st round of sanctions against Russia. Originally, the EU sanctions were intended to prohibit EU-based companies from transporting Russian liquefied natural gas (LNG). However, the EU soon realized the situation was not as simple as it seemed. It discovered that currently, a Greek company is responsible for transporting Russian LNG.

This Greek company not only has Chinese investment participation, but also most of the vessels it purchased were acquired through long-term loans provided by Chinese investors. The core enterprise in question is Dana Gas LNG Shipping Company of Greece, which has already ordered 155 vessels of various types from Chinese shipyards and continues to increase its orders with Chinese shipbuilders. If the EU's sanctions were actually enforced, and this company lost its business transporting Russian natural gas, it might even be unable to repay its loans using operational revenue.

Realizing the problem, Europe had no choice but to cancel the sanctions order and delay its implementation. An EU official stated that China's influence is immense—should the shipping company fail to repay its loans via operational income, the vessel ownership would revert to Chinese investors. The EU considers this risk extremely serious. Clearly, while the EU aimed to impose sanctions on Russia to further undermine Russia’s energy revenue, it ended up hitting an insurmountable obstacle.

The facts are obvious: European sanctions would plunge the company into financial distress. Once in distress, as a key stakeholder, the company might eventually be taken over by Chinese capital. Once Chinese investors take control, we certainly won’t comply with European sanctions. Then, the gas will continue to be transported as usual. In the end, the EU loses control of the company without affecting Russia in the slightest. Clearly, our influence has made the EU uneasy, compelling them to swallow their pride and voluntarily abandon this round of sanctions against Russia.

Original source: toutiao.com/article/1871610981555200/

Disclaimer: This article represents the personal views of the author