Finance
China Removes Countermeasures Against Two EU Banks
Published by Global Banking & Finance Review®
Posted on April 24, 2026
1 min readLast updated: April 24, 2026
Add as preferred source on GoogleQuick Summary
China’s Commerce Ministry on April 24 lifted countermeasures against Lithuania’s UAB Urbo Bankas and AB Mano Bankas, reversing a move made last August that had barred them from cooperating with Chinese entities.
China Removes Countermeasures on Lithuania's Urbo Bankas and Mano Bankas
China Lifts Restrictions Following EU Sanctions Reversal
Background of Countermeasures
BEIJING, April 24 (Reuters) - China's commerce ministry on Friday rolled back countermeasures against two banks in the EU after the bloc lifted its sanctions against two Chinese financial institutions.
Impacted Lithuanian Banks
The two banks are Lithuania's UAB Urbo Bankas and AB Mano Bankas, the commerce ministry statement showed.
Timeline of Events
The ministry announced the countermeasures in August last year in response to the bloc placing two Chinese financial institutions on a Russia-related sanctions list.
Reporting Credits
(Reporting by Yukun Zhang, Shi Bu and Ryan Woo, Editing by Louise Heavens)
Key Takeaways
- •China’s rollback follows the EU lifting sanctions on two Chinese financial institutions, prompting reciprocal policy adjustments.
- •The August 2025 countermeasures were enacted under China’s Anti‑Foreign Sanctions Law in response to the EU’s 18th Russia‑related sanctions package (news.cgtn.com).
- •While largely symbolic—Lithuanian banks had no presence in China—the initial response escalated broader China‑EU tensions over sanctions reciprocity (apnews.com).
References
Frequently Asked Questions about China removes countermeasures against two EU banks
1Which EU banks had countermeasures lifted by China?
Lithuania's UAB Urbo Bankas and AB Mano Bankas had Chinese countermeasures removed.
2Why did China remove countermeasures against the EU banks?
China lifted countermeasures after the EU ended its sanctions on two Chinese financial institutions.
3When were the original countermeasures announced?
The countermeasures were announced in August last year after EU sanctions on two Chinese banks.
4What prompted the EU to impose sanctions on Chinese banks?
The EU placed two Chinese financial institutions on a Russia-related sanctions list.
