China lodged a formal protest with the European Union after two of its banks were included in the latest round of EU sanctions on Russia, Beijing said Wednesday, just one day ahead of a key EU-China summit.
Chinese Commerce Minister Wang Wentao issued the protest during talks with EU Trade Commissioner Maroš Šefčovič on Tuesday, according to a statement from China’s Ministry of Commerce. The objection comes in response to the EU’s 18th package of sanctions targeting Russia over its ongoing war in Ukraine.
“The Chinese side strongly opposes the inclusion of two Chinese financial institutions in the EU’s sanctions,” the ministry said, without naming the banks.
The protest sets the tone for what is expected to be a tense summit on Thursday, when European Commission President Ursula von der Leyen and European Council President António Costa are scheduled to arrive in Beijing for high-level talks with Chinese leaders. The discussions are expected to cover a range of contentious issues, including trade relations and China’s stance on the war in Ukraine.
The EU’s latest sanctions package, adopted less than a week ago, includes new restrictions aimed at curbing Moscow’s oil revenues and tightening pressure on the Kremlin. Among the measures are sanctions on a Russian-owned oil refinery in India and two Chinese banks, as the EU seeks to crack down on Russia’s ability to sidestep Western sanctions through third countries.
Brussels has voiced growing concern over China’s expanding political and economic ties with Moscow since Russia launched its invasion of Ukraine in 2022. EU officials argue that such cooperation indirectly bolsters the Russian economy and helps Moscow withstand Western economic pressure. China has consistently denied these claims, insisting it remains neutral in the conflict.
The escalating trade and geopolitical tensions come amid broader friction between the EU and China over market access, industrial subsidies, and the role of Chinese firms in global supply chains.
The outcome of Thursday’s summit could prove pivotal for EU-China relations, as both sides seek to navigate increasingly complex dynamics shaped by war, sanctions, and economic competition.
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