China rebukes EU over Russia sanctions targeting its banks
The 18 th round of economic measures from Europe against Russia since its 2022 invasion comes as allies hope US President Donald Trump follows through on his threat to punish Moscow for stalling peace efforts. Among other targets, sanctions will be placed on a Russian-owned oil refinery in India and two Chinese banks as the EU seeks to curb Moscow's ties with international partners.
And in talks with EU trade chief Maros Sefcovic on Tuesday, the Chinese commerce ministry said Commerce Minister Wang Wentao "made solemn representations regarding the inclusion of two Chinese financial institutions in the EU's 18 th round of sanctions against Russia." Brussels says China's deepening political and economic relations with Russia since the 2022 invasion represent tacit support for Moscow that has helped its economy weather sweeping Western sanctions. China denies the claims.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
France 24
2 hours ago
- France 24
Zelensky defends law curbing anti-graft agencies' independence
The bill passed on Tuesday is the latest in a series of moves criticised by Ukrainian anti-corruption activists. They warn that growing government pressure threatens Ukraine's reforms and ambition to join the European Union. Zelensky has rejected the criticism, saying the law was needed to root out alleged Russian influence in anti-corruption institutions -- a charge denied by activists. "We all share a common enemy: the Russian occupiers," Zelensky said after meeting with top law enforcement and anti-corruption officials. "And defending the Ukrainian state requires a strong enough law enforcement system -- one that ensures a real sense of justice," he added. The law places the National Anti-Corruption Bureau of Ukraine (NABU) and Specialised Anti-Corruption Prosecutor's Office (SAPO) under the direct authority of the prosecutor general, who is appointed by the president. After meeting with Zelensky, NABU and SAPO repeated their criticism of the changes and said "unambiguous legislative steps are required to reinstate the guarantees revoked by parliament". Prosecutor general Ruslan Kravchenko told journalists he maintained his independence. "Society, law enforcement agencies and parliament can only judge me by my actions in the future," he told journalists. "I can sign my name in blood if it helps." 'Gift to Putin' The adoption of the law by Parliament on Tuesday sparked demonstrations in Kyiv, the first major protest in the Ukrainian capital since Russian troops invaded in 2022. More than 1,000 took part despite martial law banning large gatherings. Some fear that a political crisis over the legislation could work in Russia's favour by undermining unity in the country. "This is a gift to Putin," Oleksandra Matviichuk, head of the Centre for Civil Liberties that was awarded the Nobel Peace Prize, said of the law. Kremlin spokesman Dmitry Peskov said there was "a lot of corruption", answering a question about the protests in Kyiv. Zelensky signed the law on Tuesday as protesters were massed in front of the Ivan Franko theatre, where they projected a message reading "Veto the Law". The news was met with anger from protesters, who vowed to gather again on Wednesday at 8:00 pm local time (1700 GMT). "We all hear what society is saying," Zelensky said on Wednesday, promising to "resolve existing issues". While the government says the law will make the anti-corruption agencies function better, its critics say it consolidates power in Zelensky's hands and allow government meddling in high-profile graft cases. EU 'step back' Kyiv's partners reacted with alarm, worrying the move would undermine anti-corruption reforms key to Ukraine's bid to join the European Union. European Commission head Ursula von der Leyen has demanded "explanations" from Zelensky over the change, the EU said Wednesday. "President von der Leyen conveyed her strong concerns about the consequences of the amendments," said a spokesman. "The dismantling of key safeguards protecting NABU's independence is a serious step back," EU Enlargment Commissioner Marta Kos said. NABU began work in 2015, as Kyiv sought to bring the country closer to Europe after a 2014 pro-European revolution. Since its inception, the agency has uncovered widespread graft, including among figures in Zelensky's administration. On Monday, law enforcement conducted large-scale raids at NABU, detaining one employee on suspicion of spying for Russia. Transparency International's Ukraine office called the raids an "attempt by the authorities to undermine the independence of Ukraine's post-Revolution of Dignity anti-corruption institutions." Transparency International ranked Ukraine 105th out of 180 countries in its "corruption perceptions index" in 2024, up from 144 in 2013. Higher numbers indicate higher levels of corruption on its index. The raids followed proceedings against one the country's top activists, Vitaliy Shabunin, who was brought to court for alleged fraud and draft-dodging. Some of Shabunin's allies have denounced the case as politically motivated retribution for an investigation into the President's inner circle, including former minister Oleksiy Chernyshov. It also comes as the government rejected the appointment of the head of the Bureau of Economic Security, citing alleged connections with Russia, a decision heavily criticised by Ukrainian civil society.
Euronews
3 hours ago
- Euronews
Von der Leyen asks Zelenskyy to explain new anti-corruption law
Ursula von der Leyen has called Volodymyr Zelenskyy to express her "strong concerns" and demand "explanations" over a new law that weakens the independence of two of Ukraine's anti-corruption agencies: the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialised Anti-Corruption Prosecutor's Office (SAPO). Under the legislation, approved by the Ukrainian parliament on Tuesday and signed by Zelenskyy hours later, the two agencies are brought under the direct oversight of the prosecutor general, who is a political appointee. The prosecutor general will be allowed to select cases handled by NABU and SAPO and reassign them to other state entities, which critics say risks empowering the executive branch to sway investigations, particularly high-profile ones. "President von der Leyen conveyed her strong concerns about the consequences of the amendments, and she requested the Ukrainian government for explanations," a Commission spokesperson said on Wednesday. "The respect for the rule of law and the fight against corruption are core elements of the European Union. As a candidate country, Ukraine is expected to uphold these standards fully. There cannot be a compromise." First criticism of Zelenskyy by EU Commission since start of invasion The direct intervention of the European Commission president represents a new escalation in the unexpected clash between Brussels and Kyiv. It is the first time since the start of Russia's full-scale invasion that the executive has voiced such explicit criticism against Zelenskyy's government. On Tuesday, Marta Kos, the European Commissioner for Enlargement, voiced her strong disapproval in a bid to deter Kyiv from moving ahead with the controversial bill, which made its way through parliament at a speed that seemed to catch Brussels off guard. "We are very concerned about the adoption of the Criminal Code amendments in Ukraine. They risk weakening strongly the competences and powers of the anti-corruption institutions of Ukraine," the spokesperson went on. "Both institutions, the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialised Anti-Corruption Prosecutor's Office (SAPO) are widely regarded as cornerstones of Ukraine's rule of law. These institutions are crucial to Ukraine's reform agenda and must operate independently to fight corruption and maintain public trust." The fight against corruption is central to Ukraine's ambitions to join the European Union and is considered fundamental to attracting private capital for its reconstruction. In his evening address, Zelenskyy sought to address the mounting criticism. "The anti-corruption infrastructure will work, only without Russian influence – it needs to be cleared of that. And there should be more justice," Zelenskyy said, referring to the recent raids into the NABU offices over allegations of Russian espionage. "It is important that the Prosecutor General is determined to ensure that in Ukraine, the inevitability of punishment for those who go against the law is actually ensured. This is what Ukraine really needs."
Euronews
3 hours ago
- Euronews
EU and Japan strengthen trade alliance amid global tensions
A day after Japan reached a trade agreement with the US on tariffs, the EU and Japan announced plans to strengthen their trade cooperation and combat economic coercion during the 30th EU–Japan summit held in Tokyo on Wednesday. 'The world is changing rapidly. For strategic partners like us, it means becoming even closer to face the realities of our times,' Commission president Ursula von der Leyen said after the summit, stressing this came against a global backdrop 'with growing trade tensions and uncertainty, fragile supply chains, the challenge of overcapacity and unlevel playing fields.' In a joint statement released at the end of the summit, the EU and Japan reaffirmed their support for a rules-based international trade order, with the US challenging global trade norms by unilaterally imposing tariffs on its trading partners. 'We concur together on maintaining and strengthening a stable and predictable rules-based free and fare economic order, including upholding a multilateral trade system with the WTO at its core,' Japanese prime minister Shigeru Ishiba said. The announcement of a deal between the US and Japan, however, overshadowed the summit's news, following weeks of difficult negotiations for Tokyo. The agreement announced by US president Donald Trump would set 15% US tariffs on Japanese imports to the US, easing back from a previously threatened 25% levy. For its part, the EU is facing equally difficult negotiations with the US administration, with no agreement in sight for now. The bloc is currently subject to 50% US tariffs on its steel and aluminium, 25% on cars, and 10% on all other imports. It is in this troubled trade context that the EU and Japan plan to step up the implementation of the trade agreement that has linked them since 2019. EU firms already export nearly €70bn in goods and €28bn in services to Japan every year and bilateral trade between both sides has increased by 20% since 2019, according to von der Leyen. The Commission president announced both partners will speed up the implementation of the agreement in areas such as government procurement and sanitary and phytosanitary standards. The EU and Japan also hope for more mutual investments. On the eve of the EU–China summit, the joint statement also announces cooperation to reduce strategic dependencies, such as on critical materials, on which China implements export restrictions. The cooperation will expand to economic coercion and non-market policies and practices, with China in both sides' sights. Between August 2023 and June 2025, Japan had to face a Chinese ban on its seafood imports. For its part, the EU has several ongoing trade disputes with Beijing, on electric vehicles, dairy products, pork and spirits.
