China threatens EU with retaliation over sanctions before summit
Beijing (dpa) – A few days before the summit between the European Union and China, Beijing has threatened countermeasures against a sanctions package from Brussels. The EU has included Chinese companies in the 18th sanctions package against Russia despite multiple objections and has sanctioned two Chinese financial institutions based on “fabricated accusations,” the Ministry of Commerce in Beijing announced. China firmly rejects this and will take measures to protect the rights of its companies and financial institutions.
Brussels imposed further sanctions last Friday due to the Russian invasion of Ukraine. The long list of punitive measures also included several Chinese companies, as they are said to support Russia’s aggression directly or indirectly.
China sees relations damaged
The EU’s actions have negative impacts on trade relations and cooperation in the financial sector, the Ministry of Commerce stated. China demands that this practice be stopped immediately.
The statement from the authority comes ahead of the 25th EU-China summit this Thursday in Beijing. According to the Chinese Foreign Ministry, EU Council President António Costa and Commission President Ursula von der Leyen will meet with President Xi Jinping and Prime Minister Li Qiang.
According to EU officials, the two representatives from Brussels want to discuss the Ukraine war and the security situation in the Middle East. Additionally, the EU plans to address issues such as China’s restrictions on rare earths or the imbalanced trade between both sides. In 2024, there was a huge trade deficit with China to the detriment of the EU of around 300 billion euros, just like the year before. (July 21)
