China has sanctioned two Lithuanian banks in retaliation for earlier financial measures imposed by the European Union, reported Hong Kong's South china Morning Post.
The Ministry of Commerce announced that UAB Urbo Bankas and AB Mano Bankas will be barred from conducting business with Chinese agencies and individuals. The move is described as a countermeasure against EU sanctions.
The ban, effective immediately, prohibits all transactions, cooperation, and related activities involving the two banks. The ministry released the decision via an online statement.
Lithuania has been a vocal critic of Beijing and previously faced economic pressure after strengthening ties with Taiwan. The latest sanctions reflect ongoing tensions between China and the Baltic state.
SeaNews Turkey
The Ministry of Commerce announced that UAB Urbo Bankas and AB Mano Bankas will be barred from conducting business with Chinese agencies and individuals. The move is described as a countermeasure against EU sanctions.
The ban, effective immediately, prohibits all transactions, cooperation, and related activities involving the two banks. The ministry released the decision via an online statement.
Lithuania has been a vocal critic of Beijing and previously faced economic pressure after strengthening ties with Taiwan. The latest sanctions reflect ongoing tensions between China and the Baltic state.
SeaNews Turkey
