News24 Business | China wants BRICS to do more as Western sanctions mount

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Luiz Inácio Lula da Silva of Brasil, Xi Jinping of China, Cyril Ramaphosa, Narendra Modi of India and Sergey Lavrov of Russia following the BRICS summit in South Africa last year. (Supplied/GCIS)

Many Chinese companies have faced Western sanctions over their support for Russia’s war in Ukraine, and the European Commission is set to announce tariffs this week on Chinese EVs in a bid to protect European carmakers.

This week, the Group of Seven wealthy democracies is expected to send a tough warning to smaller Chinese banks to stop helping Russia evade Western sanctions, Reuters reported, citing sources.

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