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

China has imposed sanctions on two European Union (EU) banks in retaliation for the EU's actions against Chinese entities over Russia's invasion of Ukraine. This move comes after the EU targeted several Chinese banks and individuals for their alleged involvement in supporting Russia's war efforts. The Chinese sanctions target specific individuals and entities within the EU, restricting their ability to do business in China. This tit-for-tat response is seen as a demonstration of China's willingness to defend its interests and push back against what it perceives as unfair treatment by the EU. The sanctions are likely to further escalate tensions between China and the EU, which have been strained in recent years due to a range of issues, including trade disputes and concerns over human rights. The impact of these sanctions on the affected EU banks and the broader economic relationship between China and the EU remains to be seen.