China’s investment deal with Europe is on the rocks, with the major parties in the European Parliament either withholding, or considering withholding, support while sanctions remain on elected officials, reported the South China Morning Post.
Three of the four biggest parties have already said that they cannot support the deal until sanctions are lifted, while some factions of the European People’s Party (EPP) – Europe’s biggest party – are pushing for support to be withheld.
The deal requires ratification by the European Parliament—a process slated to begin next year—before it can be signed into effect.
“Generally as long as our elected officials are sanctioned by a third state, we can’t pursue any agreement with said state,” said one source familiar with internal dynamics. EU Trade Commissioner Valdis Dombrovskis had previously been quoted by the Financial Times saying that “the ratification process cannot be separated from the evolving dynamics of the wider EU-China relationship”.