China Threatens Retaliation Against EU Sanctions – Bloomberg The EU approved sanctions on Friday targeting two Chinese banks and five companies, the first such move since the Ukraine conflict began. Heihe Rural Commercial Bank Co. and Heilongjiang Suifenhe Rural Commercial Bank Co. were penalized for providing cryptocurrency services to Russian military-related firms. China’s Commerce Ministry condemned the sanctions, stating they "severely harm trade, economic, and financial cooperation." It vowed to take "necessary measures to protect Chinese firms and financial institutions." 🇨🇳🇪🇺