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Russia Today
21-07-2025
- Business
- Russia Today
Beijing slams EU for including Chinese firms in Russia sanctions
The EU's decision to include Chinese companies and financial institutions in the latest round of sanctions against Russia is baseless, China's Ministry of Commerce has said, stressing that Beijing will protect the targeted companies. On Friday, Brussels blacklisted two Chinese banks and five companies as part of the 18th sanctions package against Russia over the Ukraine conflict, claiming that they helped circumvent earlier sanctions. 'China has consistently opposed unilateral sanctions that lack a basis in international law and are not authorized by the UN Security Council,' a spokesperson for the ministry told journalists on Monday, warning that the EU's move will severely impact bilateral trade, as well as economic and financial cooperation. The ministry called for an immediate halt to 'the erroneous practice,' adding that China will 'take necessary measures to resolutely safeguard the legitimate rights and interests' of its sanctioned businesses. Heihe Rural Commercial Bank and Heilongjiang Suifenhe Rural Commercial Bank were included in the EU sanctions list for allegedly providing cryptocurrency services which, according to Brussels, were 'frustrating the purpose of the sanctions' on Russia. This is the first time Chinese lenders have been added to the EU sanctions list since the escalation of the Ukraine conflict in February 2022. The latest round of EU sanctions also targets seven UAE-based enterprises accused of engaging in oil trading or ship management services supporting Russian exports. Nayara Energy, an Indian oil refinery in which Russia's Rosneft holds a 49% stake, was also included. In addition, the bloc sanctioned eight Belarusian-based companies in the military-industrial sector, claiming that they support Russia through manufacturing or facilitating military technologies. Four Turkish companies were also targeted for allegedly supplying dual-use goods and technologies that could support Russia's military-industrial complex. Kremlin spokesman Dmitry Peskov described the EU's latest sanctions as a 'double-edged sword,' warning that 'each new package adds a negative effect for the countries joining it.' He stressed that Russia has already developed 'a certain immunity' to the 'illegal' Western sanctions.
South China Morning Post
18-07-2025
- Business
- South China Morning Post
European Union sanctions 2 Chinese banks over aid to Russia
The European Union has sanctioned two small Chinese banks in its latest package of measures designed to hobble Russia's war machine, despite a warning from Beijing to expect consequences. Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank, two regional lenders from cities close to China's border with Russia, were blacklisted in the 18th package of sanctions agreed on Friday morning, diplomatic sources confirmed. The development has been weeks in the making, with Slovakia withdrawing a long-standing veto to allow the package to pass. The central European country had been blocking the move over an EU plan to stop gas imports from Russia beginning in 2028. The move could prompt retaliation from China, which has lobbied intensely behind the scenes to get the banks removed from the package. It also comes less than a week out from a high-stakes summit in Beijing During a meeting with the EU's top diplomat, Kaja Kallas, this month, Chinese Foreign Minister Wang Yi warned her 'three or four times' that there would be a response to the banks' inclusion, according to sources familiar with the exchange. 01:57 Volodymyr Zelensky accuses Chinese firms of supplying artillery and missiles to Russia Volodymyr Zelensky accuses Chinese firms of supplying artillery and missiles to Russia In Brussels, Chinese diplomats – including ambassador Cai Run – have held 'frank exchanges' with EU officials to try to prevent the listing, according to people involved.
