11:29 - 12.06.2025

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June 12, Fineko/abc.az. The European Union plans to add two Chinese banks to the 18th package of sanctions against Russia for helping to circumvent trade restrictions.

ABC.AZ reports, referring to Bloomberg and the Financial Times, citing a draft document and knowledgeable sources.

Speech is about small regional banks located near the border with the Russian Federation.

According to media reports, they allegedly participated in servicing transactions and export financing that violate the sanctions regime, and could also provide services related to crypto assets.

According to FT, this will be the first attempt by Brussels to directly punish financial institutions from third countries for cooperation with the Russian Federation. In addition to Chinese banks, the package may include nearly 20 Russian credit institutions to be banned from accessing the SWIFT system, as well as Chinese companies. The decision must be agreed by all EU countries before the summit in Brussels on June 26.