The European Union is preparing to impose sanctions against two small Chinese banks for their support of the Russian Federation in circumventing trade restrictions. According to reports, these financial institutions are located in border regions of China near the border with Russia.
This is reported by Бізнес • Медіа
Financial Transactions and Cryptocurrencies
Available information indicates that these banks were involved in operations related to processing transactions and providing export financing for trade, which allowed Russia to avoid sanctions imposed by the EU. Additionally, some of them offered services related to crypto-assets, which also facilitated the circumvention of restrictions.
“Processed transactions or provided export financing for trade operations” to bypass EU sanctions.
Europe’s Political Stance
German Chancellor Friedrich Merz, during a meeting with Danish Prime Minister Mette Frederiksen, expressed hope that the next, 18th package of sanctions against Russia would be agreed upon as early as next week, despite objections from Slovakia. In turn, Mette Frederiksen called for more decisive action in relations with Russia, emphasizing the excessive trust the West had placed in negotiations with the Kremlin in the past.