China Imposes Restrictions on Two EU Organizations in Response to Anti-Russian

China has enacted restrictions against two European Union financial institutions as a retaliatory measure in response to the EU's anti-Russian sanctions, reports TASS.

According to a statement released by the Ministry of Commerce of the People's Republic of China, the countermeasures target two European banks — UAB Urbo Bankas and AB Mano Bankas.

These actions, as explained, have been taken in accordance with China's law on counteracting foreign sanctions, with the approval of the relevant state coordination mechanism. As a result, Chinese entities and individuals are prohibited from conducting transactions or fostering cooperation with the aforementioned EU financial institutions.

The statement emphasizes that the EU's anti-Russian sanctions, which impact Chinese organizations, constitute a "significant violation of international law and the fundamental norms of international relations, causing serious harm to the lawful rights and interests of Chinese enterprises."

In mid-July, the EU announced the 18th package of anti-Russian sanctions, which included several Chinese organizations, among them two Chinese financial institutions. The European side accuses these entities of involvement in bypassing Brussels' restrictions. In response, Beijing issued a stern warning to the European Union and pledged decisive retaliatory measures.