Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: IOF's top lawyer hands in resignation over leak of Sde Teiman video
Al Mayadeen's correspondent: Israeli drone strike targets motorcycle in Kawnin, South Lebanon.
Hegseth in a meeting with his Chinese counterpart: Washington will continue to defend its interests vigorously
US Defense Secretary Pete Hegseth: The United States is concerned about China's activities in the South China Sea
Occupied Palestine: Israeli occupation forces demolishe residential homes east of Khan Younis city in the southern Gaza Strip
Al Mayadeen correspondent: An Israeli drone attacked the main road in the town of Harouf, South Lebanon.
Lebanese President: Israeli aggression on Blida took place in aftermath of meeting of ceasefire monitoring committee.
Lebanese President Joseph Aoun asks Commander of Lebanese Army to confront any Israeli incursion into liberated Lebanese territory in the South.
Al Mayadeen's correspondent: Israeli aircraft launch series of strikes on area of Jarmaq, South Lebanon.
Reuters: Afghanistan and Pakistan agree to restart peace talks in Istanbul.

China targets 2 Lithuanian banks in retaliation to EU sanctions

  • By Al Mayadeen English
  • Source: Agencies + Al Mayadeen English
  • 14 Aug 2025 09:25
  • 1 Shares
3 Min Read

China imposes sanctions on two Lithuanian banks in response to the EU’s Russia-related sanctions against Chinese banks.

Listen
  • x
  • China targets two Lithuanian banks in retaliation to EU sanctions
     Lithuanian and European Union flags fly outside the Lithuanian Embassy in Beijing on Dec 16, 2021. (AP Photo/Mark Schiefelbein, File)

China has applied sanctions against two Lithuanian financial institutions in response to the European Union's latest sanctions package targeting Chinese banks allegedly linked to Russia. This marks the first direct retaliation by Beijing against specific EU banks, escalating an already strained trade relationship.

On August 13, 2025, the Chinese Ministry of Commerce announced immediate countermeasures against UAB Urbo Bankas and AB Mano Bankas. These measures prohibit any Chinese individuals or organizations from conducting transactions or establishing cooperation with the two Lithuanian banks.

The move comes after the EU's 18th sanctions package against Russia, implemented on August 9, which included Heihe Rural Commercial Bank and Heilongjiang Suifenhe Rural Commercial Bank. These Chinese banks were accused of offering cryptocurrency services that facilitated Russia's evasion of Western sanctions.

China’s Ministry of Commerce called the EU’s actions "groundless" and urged the bloc to correct its "wrongdoings" to avoid further damage to EU-China cooperation.

Lithuanian banks deny any ties to China

Related News

US pulls out Romania unit, denies it signals full Europe withdrawal

Switzerland overhauls armed forces to strengthen defense capabilities

Urbo Bankas CEO Marius Arlauskas stated that the bank had no dealings with China, while AB Mano Bankas also clarified it had no active operations in the country.

While the sanctioned Lithuanian banks have minimal financial exposure to China, the move sends a symbolic political message.

The choice of Lithuanian banks is seen as strategic. Lithuania has been at the center of diplomatic tensions with China since 2021, when it allowed Taiwan to open a representative office in Vilnius under the name "Taiwanese Representative Office" instead of "Chinese Taipei." This prompted Beijing to downgrade diplomatic relations and impose multiple economic measures.

Broader EU-China trade tensions

This banking sanctions dispute underscores the deepening rift between the EU and China. In July 2025, European Commission President Ursula von der Leyen stated that relations had reached a "clear inflection point." The EU’s trade deficit with China rose to a record €305.8 billion ($360 billion) in 2024, with total bilateral trade amounting to €731.1 billion. Trade between the two remains highly asymmetric. In 2024, EU exports to China reached €213.3 billion, while imports from China hit €517.8 billion.

China remains the EU’s second-largest trading partner, but mutual distrust is growing. The EU is pushing a "de-risking" strategy to reduce reliance on Chinese supply chains while developing investment screening mechanisms and diversifying trade.

  • China targets two Lithuanian banks in retaliation to EU sanctions
    China-EU trade in billions of Euro (produced by Al Mayadeen English)

China’s position on the Ukraine war

China has consistently promoted a political solution to the Ukraine conflict while maintaining a "no limits" partnership with Russia, declared in February 2022. The EU and NATO view this relationship as problematic, accusing China of indirectly supporting Russia's war efforts.

NATO has described China as a "decisive enabler" of Russia’s military capabilities, citing Chinese exports of tools, dual-use goods, microelectronics, and geospatial intelligence that could aid Russian forces. 

Analysts argue that China’s action was guided by a principle of proportionality, targeting small EU banks equivalent in size to the Chinese institutions affected. 

  • Europe
  • European sanctions
  • Russia
  • China-EU trade
  • China
  • Russia sanctions
  • Lithuania
  • European Union

Most Read

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Hi-tech holocaust: Microsoft’s role in Gaza genocide

Microsoft's role in world’s first AI-driven genocide, in Gaza, exposed

  • Technology
  • 28 Oct 2025
What Marr evidently didn't seem to understand was that Hedges isn't saying that Western journalists manipulate the truth, but that they systematically amplify Israeli narratives they know are false. (Al Mayadeen English; Illustrated by Batoul Chamas)

Western journalists know they have a case to answer for their betrayal of Gaza, and it frightens them

  • Opinion
  • 24 Oct 2025
Sheikh Naim Qassem speaks during an interview with Al-Manar TV, October 26, 2025 (Screenshot)

Hezbollah ready to face 'Israel' in case of war: Sheikh Naim Qassem

  • Politics
  • 27 Oct 2025

Coverage

All
War on Gaza

Read Next

All
ap
Politics

Hamas calls on int’l community to act against Israeli settlement plan

In this Nov. 9, 2017, file photo, U.S. President Donald Trump, right, chats with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing. (AP)
Economy

Ex-US diplomat says Trump-Xi deal 'tactical retreat', not lasting deal

An unarmed Minuteman II intercontinental ballistic missile launches from Vandenberg Air Force Base, California, during a test in 2002. (US Air Force)
Politics

JD Vance defends Trump's nuclear test plan as 'crucial for security'

Ultra-Orthodox Jews attend the "million man" protest against military conscription, in occupied al-Quds, October 30, 2025 (AFP)
Politics

Haredi mass rally in al-Quds exposes Zionist regime's growing crisis

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS