Beijing: China's commerce ministry on Wednesday announced countermeasures against two financial institutions in the European Union (EU) after the EU listed two Chinese financial institutions in its sanctions against Russia. Organizations and individuals in China are prohibited from engaging in related transactions, cooperation, and other activities with the two EU financial institutions, namely UAB Urbo Bankas and AB Mano Bankas, the ministry said, citing the country's Anti-Foreign Sanctions Law and the regulation on implementing the law.

According to Namibia Press Agency, the EU's sanctions, effective from August 9, have seriously violated international law and the basic norms of international relations, severely harmed the legitimate rights and interests of Chinese enterprises, and caused serious negative impacts on China-EU economic and trade relations and financial cooperation. The Chinese ministry emphasized the importance of the longstanding cooperative relationship between China and the EU, urging the EU to correct its actions and stop undermining the interests of China as well as the broader China-EU cooperation.