China has imposed sanctions on two Lithuanian banks, in retaliation for recent EU curbs on two Chinese lenders as relations sour over Russia’s invasion of Ukraine.
The measures, announced by China’s Ministry of Commerce on Wednesday, come after Brussels imposed sanctions on two regional Chinese lenders last month after allegations they had financed banned trade with Russia.
UAB Urbo Bankas and AB Mano Bankas would be added to a countermeasure list, the official ministry statement said, while individuals and organisations in China would be blocked from engaging in transactions, co-operation or “other activities” with them.
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