Citing multiple diplomats familiar with the situation, the South China Morning Post (SCMP) reported on Tuesday, the European Union (EU) is set to renew sanctions on Chinese officials accused of human rights violations in Xinjiang.

Additional takeaways

“Sanctions target four officials Brussels identified as architects of ‘large-scale surveillance’ of Muslim ethnic minorities in the Western region.”

“European Parliament to debate EU-China relations while pushing for a listing of more Chinese officials.”

Market reaction

The above headlines have little to no impact on the Euro, with EUR/USD keeping its range around 1.0250, up 0.08% on a daily basis.