Official Brussels has imposed sanctions on two Chinese banks for cooperating with the aggressor country Russia. It is important to understand that they were introduced as part of the latest package of measures designed to weaken the Kremlin's war machine.
Points of attention
- The European Commission has stated that these banks can be removed from the sanctions list if they prove that they have ceased providing support to the Russian military within six months.
- Despite warnings from Chinese Foreign Minister Wang Yi about retaliation, the European Union did not yield to the threats from Beijing and proceeded with the sanctions.
China has been hit by EU sanctions
According to the South China Morning Post, European leaders decided to impose sanctions against the aforementioned institutions, despite the fact that official Beijing has repeatedly threatened Brussels with consequences.
Media insiders claim that two regional lenders from cities located near China's border with Russia were blacklisted in the 18th package of sanctions.
What is important to understand is that we are talking about Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank.
Chinese Foreign Minister Wang Yi has repeatedly warned the European Union that China will retaliate if such a decision is made.
However, official Brussels did not stop these threats.
On Friday, the European Commission informed ambassadors that there is an obligation to review the lists of creditors after six months. If banks prove that they have stopped providing support to the Russian military, they can be removed from the list.
