EU imposes sanctions against Chinese banks for the first time despite Beijing's threats
Photo: China tried to prevent sanctions against its banks (Getty Images)
The European Union included Chinese banks for the first time in the 18th package of sanctions against Russia. Among other foreign companies that helped the Kremlin, two financial institutions from China were blacklisted, the South China Morning Post reports.
The agency's own sources among diplomats confirmed that two Chinese regional banks, Suifenhe Rural Commercial and Heihe Rural Commercial, were sanctioned. Both banks are located near the border between China and Russia.
At the same time, China actively lobbied to exclude the banks from the sanctions package, threatening to retaliate and directly demanding that the EU not impose sanctions on Chinese financial institutions.
In particular, Chinese Foreign Minister Wang Yi made threats during a meeting with High Representative of the European Union for Foreign Affairs and Security Policy Kaja Kallas. And Ambassador Cai Run in Brussels announced possible consequences to EU officials.
But the European Union defiantly ignored Chinese warnings and threats and added the banks to the blacklist. However, China managed to ease the conditions a bit. In six months, if the banks prove that they have stopped supporting the Russian army, they can be removed from the list.
Sanctions against Russia: 18th package
On Friday, July 18, the European Union introduced a new package of sanctions against Russia. Among other things, it provides for a new price ceiling for Russian oil. The package also includes several new financial and trade measures. In addition, the EU has already started working on the 19th sanctions package.
Ukrainian President Volodymyr Zelenskyy also said that new economic sanctions against Russia are being prepared. They will be implemented at different levels - both at the level of partners and in the Ukrainian jurisdiction.
Read more about the new sanctions in RBC-Ukraine's report.
