The Ministry of Commerce of China File photo: VCG

China's Ministry of Commerce (MOFCOM) announced on Wednesday it will take countermeasures against two EU financial institutions, effective August 13, 2025 after the EU listed two Chinese financial institutions in its sanctions against Russia.

In accordance with relevant regulations of China's Anti-Foreign Sanctions Law  and relevant rules of the Provisions for the Implementation of China's Anti-Foreign Sanctions Law, and with the approval of the national anti-foreign sanctions working mechanism, China has decided to include two EU banks - UAB Urbo Bankas and AB Mano Bankas in the countermeasures list, according to a MOFCOM statement released on its website on Wednesday.
 
Organizations and individuals within China are prohibited from engaging in relevant transactions, cooperation and other activities with the two banks, said the statement. 

On July 18, 2025, the EU added two Chinese financial institutions to the sanctions list in its 18th round of sanctions against Russia. This constitutes a serious violation of international law and basic norms governing international relations, and severely damages the legitimate rights and interests of Chinese companies, said the MOFCOM in a statement released on its website on Wednesday.

To resolutely safeguard its sovereignty, security and development interests, in accordance with the  Anti-Foreign Sanctions Law of the People's Republic of China and other relevant laws and regulations, and with the approval of the National Anti-Foreign Sanctions Coordination Mechanism, China has decided to place EU banks UAB Urbo Bankas and AB Mano Bankas on its countermeasure list, prohibiting organizations and individuals within China from engaging in transactions, cooperation or other activities with them, a MOFCOM spokesperson said on Wednesday.

Responding to a media inquiry, the spokesperson said the move by the EU gravely violates international law and basic norms governing international relations, severely damages the legitimate rights and interests of Chinese companies, and has a serious negative impact on China-EU economic and trade relations, and financial cooperation. China firmly opposes this, said the MOFCOM spokesperson.

Global Times