China has imposed retaliatory sanctions on two EU financial institutions

China has imposed retaliatory sanctions on two European Union (EU) financial institutions. This was announced on August 13 on the website of the Ministry of Commerce of the People's Republic of China.

"We hereby publish the 'Decision on taking Countermeasures against two EU Financial Institutions,' which will enter into force on August 13, 2025," the statement said.

According to the agency, these measures were introduced in order to counter EU sanctions against two Chinese financial institutions, which were included in the 18th package of sanctions against Russia, which seriously violated international law.

Thus, countermeasures were introduced against two banks: UAB Urbo Bankas and AB Mano Bankas. It clarifies that the country's organizations are prohibited from participating in transactions, cooperation and other activities with them.

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On July 18, the head of the European Diplomacy, Kaya Kallas, announced that the permanent representatives of the EU countries had agreed on the 18th package of sanctions against Russia. It was clarified that the restrictions would affect the operation of the Nord Stream gas pipelines. The EU countries also agreed to lower the ceiling on oil prices from the Russian Federation.

Kremlin spokesman Dmitry Peskov, in turn, said that Russia had acquired immunity to the sanctions that the EU was actively imposing.

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