In response to the EU's previous sanctions list against Russia, which included multiple Chinese enterprises, the Chinese Ministry of Commerce announced on Wednesday (August 13) that two EU banks, UAB Urbo Bankas and AB Mano Bankas, will be included in the countermeasures list.
The Chinese Ministry of Commerce has issued a decision on taking countermeasures against two EU financial institutions, stating that the EU included two Chinese financial institutions in the 18th round of sanctions against Russia on the 18th of last month, seriously violating international law and basic norms of international relations, and seriously damaging the legitimate rights and interests of Chinese enterprises.
The Ministry of Commerce stated that, in accordance with the relevant provisions of the Anti Foreign Sanctions Law of the People's Republic of China and the Regulations on the Implementation of the Anti Foreign Sanctions Law of the People's Republic of China, and with the approval of the national coordination mechanism for anti foreign sanctions work, it has been decided to include the EU's UAB Urbo Bankas and AB Mano Bankas banks in the countermeasure list and take the following countermeasures: prohibit organizations and individuals within China from engaging in transactions, cooperation, and other activities with them.
On the 18th of last month, the EU passed the sanctions program against Russia, adding 26 entities to evade sanctions, including seven from China, three from Hong Kong, and four from Türkiye. China Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank have also been included in the EU's sanctions list against Russia.
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