China criticises the EU for its sanctions: it promises retaliation

China powerfully criticized the European Union for placing Chinese companies on the list of sanctions against Russia. Beijing accused Brussels of "unwarranted accusations" and announced "necessary measures" to defend its businesses. The EU decision falls just before the EU-China summit in Beijing on Thursday.

Unnamed spokesperson for the Chinese Ministry of Commerce powerfully attacked the EU decision. He accused the EU of placing Chinese entities on the list of sanctions under "unwarranted allegations".

"The approach of the European side is contrary to the spirit of consensus between Chinese and European leaders and will have a serious negative impact on China-EU economical and trade relations and financial cooperation" - said the spokesperson. Beijing authorities called on the EU "to immediately halt incorrect practices".

China announces retaliation measures

Beijing did not halt with criticism of the EU decision. The Chinese authorities announced "necessary measures" to defend the legitimate rights and interests of Chinese companies and financial institutions.

Last week Brussels announced a fresh package of sanctions for Russia in connection with its invasion of Ukraine. The restrictions included the energy, banking and military sectors.

First Chinese banks on the list

Chinese companies and, for the first time, 2 tiny banks were besides included in the sanction list. This is an unprecedented step for the EU towards the Chinese financial sector.

This decision is being taken in the face of the forthcoming EU-China summit to be held in Beijing on Thursday. This gathering aims to ease many tensions, including trade disputes and Chinese-Russia partnership issues in the context of the war in Ukraine.

From Beijing, Krzysztof Pawliszak (PAP) krp/ ap/ Note: This article was edited utilizing Artificial Intelligence.