EU seeks deal with China over sanctions threatening ASML supplier
The EU is negotiating with China over sanctions that could threaten German ASML supplier Sindlhauser Materials, according to people cited by Bloomberg and reported by ANP. The proposed exchange would lift EU restrictions on an unnamed Chinese firm accused of aiding Russia. [1]
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The European Union is negotiating with China to secure an exemption from sanctions that could threaten the survival of German company Sindlhauser Materials, according to people familiar with the talks who spoke to Bloomberg, as reported by ANP. Sindlhauser supplies Dutch chipmaking-equipment maker ASML. [1]
In exchange, the EU is said to be seeking the removal of trade restrictions it imposed on an unnamed Chinese company accused of helping Russia in its war against Ukraine. [1]
China sanctioned Sindlhauser in July, along with 13 other European companies, in response to a new EU sanctions package against Russia. The German firm specialises in precision manufacturing and advanced coatings for the semiconductor industry and other sectors, and depends on Chinese supplies of rare earths and other critical minerals. [1]
The people cited by Bloomberg said Sindlhauser could go bankrupt in the coming months if China’s measures remain in force. The European Commission, Sindlhauser and China’s Ministry of Commerce had not immediately responded to Bloomberg’s requests for comment, ANP reported. [1]
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