The Ministry of Commerce of China File photo: VCG

Chinese Minister of Commerce Wang Wentao lodged a stern protest over the EU's move to list two Chinese financial institutions in its 18th package of sanctions against Russia during a virtual meeting with EU Commissioner for Trade and Economic Security Maroš Sefčovič on Tuesday, according to a release by the Ministry of Commerce (MOFCOM) on Wednesday. 

The two sides had a candid and in-depth exchange on China-EU economic and trade cooperation and relevant key issues, read the release.

Experts said that at this critical juncture, as China and the EU are in a process of repositioning for their development trajectories,  cooperation rather than confrontation is essential for trade stability, and unilateral actions are not a viable path forward.

Zhang Jian, vice president of the China Institutes of Contemporary International Relations, told the Global Times on Wednesday that the EU's unilateral sanctions against Chinese companies, despite China's normal trade with other countries, violate the basic norms of international relations. 

"Such actions reflect a disregard for the very principles the EU claims to uphold and expose the double standards and hypocrisy behind its so-called rules-based international order," he said.

Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Wednesday that any government action must be grounded in facts and law. The EU's move to sanction Chinese banks without clear evidence risks being seen as an abuse of economic power, fueling market uncertainty and damaging the global trade environment. 

At a time when both China and the EU are adjusting their development strategies, cooperation—not confrontation—is needed to maintain stability in international trade, Zhou said.

Zhang noted that the EU's arbitrary use of sanctions based on its own preferences creates uncertainty and undermines trust in global cooperation. "This sends a troubling signal to third countries, whose normal trade ties with the EU could also be disrupted without justification."

In response to a media question about the EU's latest round of sanctions against Russia last Friday involving some Chinese-funded banks and five Chinese enterprises, Chinese Foreign Ministry spokesperson Guo Jiakun said at a press conference on Monday that on the Ukraine crisis, China has been committed to promoting peace talks. We never provide lethal weapons to any party to the conflict, and strictly control the exports of dual-use items. The normal exchange and cooperation between Chinese and Russian companies should not be disturbed or affected. 

China has always opposed unilateral sanctions that have no basis in international law and are not authorized by the UN Security Council. The EU's move runs counter to the spirit of the consensus reached by Chinese and EU leaders and has a serious negative impact on China-EU economic and trade relations and financial cooperation, a spokesperson of the MOFCOM also said on Monday.


Global Times