Latest news with #ABManoBankas
Bloomberg
6 days ago
- Business
- Bloomberg
China Sanctions Two EU Banks, Hitting Back at Europe's Moves
China sanctioned a pair of banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia's invasion of Ukraine. China included UAB Urbo Bankas and AB Mano Bankas in its countermeasure list, the Ministry of Commerce said in a statement on Wednesday. The move bans organizations and individuals in China from transactions, cooperation and other activities with the institutions.
Mint
6 days ago
- Business
- Mint
China Sanctions Two EU Banks, Hitting Back at Europe's Measures
China sanctioned a pair of banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia's invasion of Ukraine. China included UAB Urbo Bankas and AB Mano Bankas in its countermeasure list, the Ministry of Commerce said in a statement on Wednesday. The move bans organizations and individuals in China from transactions, cooperation and other activities with the institutions. In a separate statement, the ministry said it hoped the EU would cherish its relationship with China, correct its wrongdoing and stop harming the nation's interests. Last month, the European Union sanctioned two Chinese banks and five companies based in the Asian nation as part of the latest round of measures against Moscow. The EU said the banks were listed for providing cryptocurrency services that were frustrating the purpose of the sanctions. China's close ties with Russia had subjected its banks to similar sanctions from the US before, prompting them to re-evaluate businesses and clients. Some of its state-owned banks tightened curbs on funding to Russian clients early last year, after the US authorized secondary sanctions on overseas financial firms that aid Moscow's war effort. China and Lithuania have been at odds in the past. Last year, Lithuania expelled three Chinese embassy employees, saying they weren't accredited. Beijing had earlier downgraded its diplomatic ties with the Baltic nation in response to Lithuania's decision to allow the opening of a Taiwan representative office in Vilnius. Ties between Beijing and Brussels have been strained in recent years, largely due to China's support for Russia's war in Ukraine. This article was generated from an automated news agency feed without modifications to text.
Al Bawaba
6 days ago
- Business
- Al Bawaba
China sanctions two Lithuanian banks in retaliation for EU measures over Russia
ALBAWABA- China has imposed sanctions on two Lithuanian banks, barring them from conducting any transactions or cooperation with Chinese organizations and individuals, in a direct retaliation against the European Union's latest Russia-related sanctions. The Ministry of Commerce (MOFCOM) announced on Wednesday that UAB Urbo Bankas and AB Mano Bankas have been placed on its countermeasures list under China's Anti-Foreign Sanctions Law. The move prohibits any financial dealings, partnerships, or other activities involving the two institutions within China. China sanctions two banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia's invasion of Ukraine — Bloomberg (@business) August 13, 2025 The decision follows the EU's July 18 move to add two Chinese financial institutions to its 18th round of sanctions targeting entities linked to Russia's invasion of Ukraine. Also Read Elon Musk Grok chatbot faces brief suspension drama on X MOFCOM accused Brussels of 'seriously violating international law' and 'damaging the legitimate rights and interests of Chinese companies.' Both sanctioned banks are based in Lithuania, one of Beijing's most outspoken critics within the EU, and a country previously targeted by Chinese economic measures after strengthening ties with Taiwan. China said the action is intended to 'safeguard sovereignty, security, and development interests' and warned it would respond firmly to any further 'unjustified' sanctions targeting Chinese entities.
Al Arabiya
6 days ago
- Business
- Al Arabiya
China sanctions two EU banks hitting back at Europe's measures
China sanctioned a pair of banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia's invasion of Ukraine. China included UAB Urbo Bankas and AB Mano Bankas in its countermeasure list, the Ministry of Commerce said in a statement on Wednesday. The move bans organizations and individuals in China from transactions, cooperation and other activities with the institutions. In a separate statement, the ministry said it hoped the EU would cherish its relationship with China, correct its wrongdoing and stop harming the nation's interests. Last month, the European Union sanctioned two Chinese banks and five companies based in the Asian nation as part of the latest round of measures against Moscow. The EU said the banks were listed for providing cryptocurrency services that were frustrating the purpose of the sanctions. China's close ties with Russia had subjected its banks to similar sanctions from the US before, prompting them to re-evaluate businesses and clients. Some of its state-owned banks tightened curbs on funding to Russian clients early last year, after the US authorized secondary sanctions on overseas financial firms that aid Moscow's war effort. China and Lithuania have been at odds in the past. Last year, Lithuania expelled three Chinese embassy employees, saying they weren't accredited. Beijing had earlier downgraded its diplomatic ties with the Baltic nation in response to Lithuania's decision to allow the opening of a Taiwan representative office in Vilnius. Ties between Beijing and Brussels have been strained in recent years, largely due to China's support for Russia's war in Ukraine.
Bloomberg
6 days ago
- Business
- Bloomberg
China Sanctions Two EU Banks, Hitting Back at Europe's Measures
China sanctioned a pair of banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia's invasion of Ukraine. China included UAB Urbo Bankas and AB Mano Bankas in its countermeasure list, the Ministry of Commerce said in a statement on Wednesday. The move bans organizations and individuals in China from transactions, cooperation and other activities with the institutions.
