First-of-a-kind blacklisting comes in countdown to EU-China summit in Beijing next week.
The European Union has sanctioned two small Chinese banks in its latest package of measures designed to hobble Russia’s war machine, despite a warning from Beijing to expect consequences.
Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank, two regional lenders from cities close to China’s border with Russia, were blacklisted in the 18th package of sanctions agreed on Friday morning, diplomatic sources confirmed.
