In the 18th package of sanctions against Russia, the European Union for the first time included Chinese banks in the list of restrictions. Among other foreign companies that cooperated with the Kremlin, two financial institutions from China were added to the "black list". This is reported by South China Morning Post, citing its own sources, according to UNN.
Details
It is noted that two Chinese regional banks, Suifenhe Rural Commercial and Heihe Rural Commercial, were sanctioned. Both banks are located near the border between China and Russia.
At the same time, China actively lobbied for the exclusion of banks from the sanctions package, threatening a reaction and directly demanding that the EU not impose sanctions against Chinese financial institutions.
In particular, Chinese Foreign Minister Wang Yi resorted to threats during a meeting with the High Representative of the European Union for Foreign Policy, Kaja Kallas. And Ambassador Cai Rong in Brussels told EU officials about "possible consequences."
But the European Union demonstratively ignored Chinese warnings and threats and added the banks to the "black list." However, China managed to slightly soften the conditions. After six months, if the banks prove that they have stopped providing support to the Russian army, they may be excluded from the list.
Recall
On Friday, July 18, the EU Council approved the 18th package of sanctions against Russia, covering the energy, banking, and military sectors. The restrictions include lowering the oil price cap, banning transactions with "Nord Stream," and expanding the list of sanctioned individuals and companies.
President Zelenskyy announced the preparation of synchronization of European sanctions and new decisions on sanctions in Ukraine. This is a response to the 18th EU sanctions package, which increases pressure on the Russian tanker fleet and limits the price of oil.