China imposes sanctions on two European Union banks

Published at: 13/08/2025 09:41 AM

This Wednesday, the Ministry of Commerce of the People's Republic of China reported that the authorities of the Asian nation apply sanctions against two financial institutions of the European Union (EU).

On July 18, the Council of the European Union granted approval to the 18th package of sanctions against the Russian Federation, which includes actions against 14 individuals and 41 legal entities, Telesur said.

The limitations had a special impact on two Chinese financial institutions due to their collaboration with Russia. In reaction to the EU's measures, China chose to apply retaliatory sanctions.

Since August 13, preventive actions have been implemented against two banks: UAB Urbo Bankas and AB Mano Bankas. “Organizations and individuals on the territory of China are prohibited from carrying out corresponding operations and cooperating with them,” the entity said.

After the implementation of the 18th package of sanctions, Guo Jiakun, a spokesman for the Chinese Foreign Ministry, stated that the usual collaboration between Russian and Chinese companies should not be subject to any interference or impact

Mazo News Team