China lifts countermeasures against two EU banks after sanctions rollback

Friday 24 April 2026 - 15:15

China has announced the removal of countermeasures imposed on two European Union banks following a reciprocal easing of sanctions by the European bloc, marking a small step toward stabilizing financial relations between the two sides.

The decision was confirmed by China’s Ministry of Commerce on Friday, which stated that restrictions targeting two Lithuanian banks—UAB Urbo Bankas and AB Mano Bankas—have been officially lifted.

These countermeasures were originally introduced in response to EU sanctions placed on certain Chinese financial institutions over their alleged links to Russia-related transactions. The recent mutual rollback reflects ongoing efforts to reduce economic tensions and restore channels of financial cooperation.

Officials in Beijing emphasized that the move follows the European Union’s decision to remove sanctions on corresponding Chinese entities, suggesting a coordinated de-escalation in the dispute.

Analysts note that while the step is limited in scope, it signals a willingness on both sides to manage disagreements through negotiation rather than prolonged economic confrontation.

The development comes amid broader global discussions on trade stability, financial regulation, and the balancing of geopolitical interests between major economic powers.