China blocked two European banks in response to EU sanctions: details of the conflict

According to hvylya.net: Recently, China responded to sanctions imposed by the EU. Two Chinese financial institutions are prohibited from conducting transactions with Lithuanian banks. China urged the European Union to correct its mistakes and avoid harming cooperation. These disputes arose after Chinese companies were included in the sanctions package against Russia.

'We hope that the EU will appreciate the long-term good cooperation established between China and the EU and its member states in the fields of economy, trade, and finance,' noted the Chinese Minister of Commerce.

The President of the European Commission noted that trade relations with China have reached a 'clear turning point' and remain tense. After a meeting with Chinese leaders in Beijing, the situation has not been resolved, and the conflict between the parties continues.