World Briefing: November 26, 2024

The European Union has proposed for the first time to target Chinese companies and individuals with visa bans and asset freezes over their dealings with Russian firms linked to Moscow's war effort in Ukraine, according to RFE/RL. The new measures, which are laid out in a draft proposal reviewed by RFE/RL, are part of a proposed 15th sanctions package recently put forward by Brussels that aims to target six China-based companies with asset freezes and one Chinese citizen with a visa ban, among other entities. While the EU has hit Chinese entities in the past with sanctions as part of Brussels' effort to curtail evasion, those measures have consisted of bans that prevent EU companies from having business dealings with those firms. This proposal marks the first effort to blacklist Chinese companies or individuals with visa bans and asset freezes over helping Russia procure dual-use goods that can be used on the battlefield. If approved, such a move would prevent individuals associated with the company from entering the EU and would freeze each firm's EU-based funds - RFE/RL

Group of Seven allies are set to step up pressure on China while offering Kyiv “unwavering commitment” amid accusations that Beijing has increased support for Russia in its war against Ukraine. The G-7 foreign ministers, who are meeting in Italy on Monday and Tuesday, are expected to vow “appropriate measures consistent with our legal systems, against actors in China and in other third countries” who are supporting Russia’s “war machine” in Ukraine, according to an early draft of the communique seen by Bloomberg. The language on China, if adopted, would represent an escalation compared with the previous foreign ministerial meeting in April, when the club of nations called on China to “ensure” that it stops its support for Russia with dual-use weapons. North Atlantic Treaty Organization allies in July called China a “decisive enabler” of Russia’s war against Ukraine. The G-7 allies are also expected to “continue to apply significant pressure on Russian revenues from energy, metals and other commodities through the effective implementation of existing measures and further actions against the ‘shadow fleet’.” The new measures would seek to curb the use of a covert fleet of tankers Russia has assembled to get around a price cap and restrictions that target Russia’s ability to get its oil to market - Bloomberg

A pro-Russian, far-right politician has won the first round of Romanian presidential elections, dealing a big blow to the country’s political establishment. Calin Georgescu, formerly linked to the radical, nationalist AUR party, ran as an independent and was not seen as a front runner. Because no candidate received more than 50 percent of Sunday’s vote, Georgescu will take part in a runoff in two weeks. If Georgescu wins, he will hold the most powerful office in Romania, with the right to nominate a prime minister, conduct coalition talks, and have the final say on security and foreign policy. Georgescu has questioned Romania’s membership of NATO, arguing that Bucharest did not see clear benefits from the alliance. He has also questioned the placement of an anti-missile shield in Romania, in statements that echo Russian President Vladimir Putin. In 2020, he called Putin one of the world’s few “true leaders.” Georgescu secured 23 percent of the vote, while Liberal leader Elena Lasconi came second with 19.2 percent. “This is a political earthquake,” said Costin Clobanu, a researcher at Aarhus University in Denmark. “No one predicted this.” - FT

Separately, Politico reported that Georgescu has claimed Russia’s war in Ukraine, a Romanian neighbor, is manipulated by American military companies. He leveraged TikTok to rally voters around him. “He managed to convince them by a combination of messianic speech, delivered in an elegant way, so as to capitalize on people’s frustrations,” said political analyst Radu Magdin. 

President-elect Donald Trump said Monday he will impose a 25% tariff on all products coming into the U.S. from Mexico and Canada, and additional 10% levies on all Chinese products, on his first day in office as penalties for deadly fentanyl and illegal immigrants pouring across the borders. In a series of posts on Truth Social, Mr. Trump said that on Jan. 20, he will sign “all necessary documents” in one of his first executive orders to levy tariffs on all products imported from the North American neighbors. He said the tariffs will remain in effect until Canada and Mexico crack down on the flow of fentanyl and illegal immigrants. Mr. Trump also said he would levy the additional 10% tariff on all Chinese goods, many of which are already under tariffs imposed during the first Trump administration - Washington Times

Separately, the Globe and Mail reported that Canadian Prime Minister Justin Trudeau spoke with Mr. Trump about two hours after the announcement of the tariffs. One Canadian government source with knowledge of the conversation said Mr. Trudeau pointed out to Mr. Trump that the number of migrants crossing from Canada to the U.S. is relatively small compared with those coming from Mexico. The official said the pair also discussed trade and border security more generally.

A cargo plane flying on behalf of German logistics company DHL crashed near Vilnius International Airport in Lithuania early on Monday, killing at least one person, according to Lithuanian officials. A spokesperson for DHL Lithuania told the Reuters news agency that the company has opened an investigation, adding: "We do not have any information that any of the parcels onboard the crashed cargo plane were suspicious." Germany's Foreign Minister Annalena Baerbock was not ruling out sabotage and said the question of whether it was a "hybrid incident" needed to be asked. “We must now seriously ask ourselves whether this was an accident or whether it was another hybrid incident," Annalena Baerbock told reporters at a G7 foreign ministers," said Baerbock on the sidelines of the G7 foreign ministers meeting in Italy. - DW

After using hydrocarbons as a weapon against the Europeans, Russia is now turning to metals as a lever against the Americans. Moscow decided in mid-November to ban the export of enriched uranium to the United States until the end of 2025. The action could cause an impact as American nuclear power plants rely on Russia for 27 percent of their uranium needs. Atlantic. However , the consequences on the market should be limited in the short term because nuclear power plant operators have several years of stocks ahead of them - Les Echos

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