China slams EU sanctions on Chinese institutions, announces countermeasures: ministry

(ECNS) -- China's commerce ministry on Tuesday strongly condemned the European Union's decision to add two Chinese financial institutions to its sanctions list under the pretext of their alleged ties to Russia.

The ministry said the EU's decision seriously violates international law and the basic norms of international relations, gravely undermines the legitimate rights and interests of Chinese enterprises, causing severe negative impacts on China-EU economic and trade relations as well as financial cooperation.

In order to resolutely safeguard its sovereignty, security, and development interests and in accordance with the anti-foreign sanctions law, China has decided to include the EU's UAB Urbo Bankas and AB Mano Bankas on its countermeasure list, prohibiting domestic organizations and individuals from engaging in transactions and cooperation. The decision comes into effect on Wednesday.

China urges the EU to cherish the long-standing sound bilateral cooperation and its member states in the economic, trade, and financial sectors, correcting its wrongful actions and stopping harming China's interests and undermining China-EU cooperation.

(By Gong Weiwei)