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8h ago

China Bans Two Lithuanian Banks in Response to EU Sanctions

Brussels says it will review Beijing’s countermeasures to explore a negotiated resolution

A woman walks past a Lithuania's AB Mano Bankas, which was imposed sanctioned by the Chinese Ministry of Commerce on Wednesday, in Vilnius, Lithuania, Thursday, Aug. 14, 2025. (AP Photo/Mindaugas Kulbis)
The building that houses on its ground floor, the Lithuanian bank UAB "Urbo bankas" which was imposed sanctions by the Chinese Ministry of Commerce, in Vilnius, Lithuania, Thursday, Aug. 14, 2025. (AP Photo/Mindaugas Kulbis)
Bank customers exit Lithuania's UAB Urbo Bankas, which was imposed sanctioned by the Chinese Ministry of Commerce on Wednesday, in Vilnius, Lithuania, Thursday, Aug. 14, 2025. (AP Photo/Mindaugas Kulbis)
An employee works in the operations department of Lithuanian UAB Urbo Bankas, which was imposed sanctions by the Chinese Ministry of Commerce on Wednesday, in Vilnius, Lithuania, Thursday, Aug. 14, 2025. (AP Photo/Mindaugas Kulbis)

Overview

  • China’s Ministry of Commerce announced on August 13 that UAB Urbo Bankas and AB Mano Bankas are barred from all transactions and cooperation with Chinese persons and organizations.
  • The step directly follows the EU’s August 9 decision to sanction Heihe Rural Commercial Bank and Suifenhe Rural Commercial Bank over suspected Russia-linked financial activity.
  • A spokesperson for China’s Ministry of Commerce condemned the EU sanctions as violations of international law that damage China-EU economic and trade ties.
  • EU officials have confirmed they are assessing China’s response and remain open to discussions that could result in reversing the restrictions.
  • Observers characterize the exchange as a tit-for-tat escalation that could further strain China-EU financial relations absent a diplomatic settlement.