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China sanctions EU's UAB Urbo Bankas, AB Mano Bankas as a countermeasure

( August 13, 2025, 07:21 GMT | Official Statement) -- MLex Summary: China placed two EU banks — UAB Urbo Bankas and AB Mano Bankas — on its sanctions list as a countermeasure to EU sanctions, according to a statement released today by the Ministry of Commerce. The move, effective immediately, bars Chinese entities and individuals from engaging in any transactions or cooperation with the banks. The ministry said the EU's inclusion of two Chinese financial institutions in its 18th round of sanctions against Russia on July 18 was a serious violation of international law that harmed the legitimate interest of Chinese companies, and urged Brussels to reverse course and stop damaging China-EU ties.The statement follows:...

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