Following the European Union’s (EU) recent decision to impose sanctions on several Chinese entities over alleged facilitation of sanctioned cryptocurrency transactions involving Russia, Beijing has moved quickly to issue retaliatory measures of its own.
China’s Ministry of Commerce condemned the EU’s sanctions as “politically motivated” and “lacking factual basis.”
On 13 August 2025, China announced countermeasures against two Lithuanian financial institutions after they listed two Chinese banks in its sanctions against Russia.
According to local media reports “organizations and individuals in China are prohibited from engaging in related transactions, cooperation and other activities with the two EU financial institutions, namely UAB Urbo Bankas and AB Mano Bankas, the ministry said, citing the country’s Anti-Foreign Sanctions Law and the regulation on implementing the law.”
China is done being the nice guy
If anyone infringes on China, China will hit back
In 24 hours, China sanctioned
Czech President Pavel
Canada Canola oil
2 EU banks
China targets two EU banks, retaliating to bloc's Russia sanctions packagehttps://t.co/zxBV5JIlUs— David Lee (@DavidLe76335983) August 13, 2025
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In early August, the EU unveiled a package of expanded sanctions aimed at tightening pressure on Russia’s war effort in Ukraine. It included blacklisting of several Chinese companies and individuals accused of helping Moscow circumvent restrictions by enabling crypto transfers pegged to sanctioned entities.
The EU regulators alleged that these firms provided wallets, OTC services, or mixing tools to process digital assets linked to Russian interests.
Previously, the sanctions targeted Russian exchanges and crypto facilitators directly. However, this is the first time China-based institutions have been included in the list.
Chinese officials have warned of “necessary countermeasures” to protect the “legitimate rights and interests” Chinese enterprises.
Apparently, China is said to be reviewing technology export licenses and imposing tighter scrutiny on EU-based blockchain and fintech companies operating in the Chinese market. Chinese regulators are allegedly auditing EU-linked banking partners that have exposure to Chinese crypto-adjacent companies.
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Countries like China, Russia, and Iran are creating their own global currency called BRICS. BRICS stands for Brazil, Russia, India, China, and South Africa. And more than a dozen other countries have already signed on.
Independently, these countries are dwarfs to the US. But together, they represent 40% of the world’s population. According to the IMF, BRICS will represent 50% of the world’s GDP by 2030.
The US is no longer holding all the cards at the global table.
In 2025, the world is G7 countries like Canada, France, Germany, Italy, Japan, the UK, US and the European Union, vs. BRICS.
Like BRICS, the G7 countries control 40% of the world’s GDP. This is also why, only two years ago, China was taking an active role in the negotiations between Saudi Arabia, the second largest oil hegemon, and Iran, the 14th largest economy in the world.
If this were a kickball game, we’re seeing China recruit the teams and set up the field while America still picks dandelions.
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Key Takeaways
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China is said to be reviewing technology export licenses. The country is imposing tighter scrutiny on EU-based blockchain and fintech companies operating in the Chinese market.
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State regulators are allegedly auditing EU-linked banking partners that have exposure to Chinese crypto-adjacent companies.
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