⚖️ China's Ministry of Commerce has leveled up the trade drama, adding EU-based UAB Urbo Bankas and AB Mano Bankas to its official countermeasures list.
This move bans organizations and individuals in the Chinese mainland from any transactions, cooperation, or related activities with these two banks. 💼
The decision is Beijing's response to the EU's July sanctions targeting two Chinese financial institutions over its Russia measures. According to the ministry, the EU actions 'severely violated international law and the basic norms of international relations', harming the rights and interests of Chinese companies.
What's next? This tit-for-tat highlights growing tensions between China and the EU, with potential ripple effects on global trade and cross-border deals. 🌍 Young entrepreneurs and investors should watch for shifts in financing and cooperation opportunities.
Stay tuned to see how this unfolding trade saga reshapes the future of international banking and commerce! 🚀
Reference(s):
cgtn.com
