The European Union has intensified its economic measures against Russia by adding two significant Chinese oil refiners and a trading arm of PetroChina to its sanctions list. According to the EU's Official Journal, the companies targeted include Liaoyang Petrochemical and Shandong Yulong Petrochemical, along with Chinaoil Hong Kong.

This move highlights the EU's efforts, in collaboration with the Group of Seven, to curb Russia's financial resources, particularly from oil and gas revenues, which are vital for funding its activities in Ukraine. The EU identified these companies as major purchasers of Russian crude, contributing substantially to Moscow's revenue.

Shandong Yulong, a new and large refinery with a 400,000 barrels per day capacity, has seen several of its suppliers halt sales, f

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