China Sanctions Two EU Banks, Hitting Back at Europe’s Moves (3)

China sanctioned a pair of banks in the EU, fulfilling a promise to retaliate after the bloc targeted some Chinese lenders over Russia’s invasion of Ukraine.

China included UAB Urbo Bankas and AB Mano Bankas in its countermeasure list, the Ministry of Commerce said in a statement on Wednesday. The move bans organizations and individuals in China from transactions, cooperation and other activities with the institutions.

In a separate statement, the ministry said it hoped the EU would cherish its relationship with China, correct its wrongdoing and stop harming the nation’s interests.

Olof Gill, a spokesman at the European Commission, ...