The Ministry of Commerce of the People’s Republic of China has announced the imposition of sanctions on “two financial institutions of the European Union” – banks UAB Urbo Bankas and AB Mano Bankas. Now, Chinese organizations and individuals are prohibited from participating in transactions, cooperation and other activities with these banks.
The ministry stated that the sanctions against European banks are a countermeasure, in response to the fact that on July 18, 2025, the EU added two Chinese financial institutions to the sanctions list as part of the 18th round of sanctions against Russia, which “seriously violated international law and the basic norms of international relations and caused serious damage to the legitimate rights and interests of Chinese companies”.
UAB Urbo Bankas started its operations on November 24, 1992 in Vilnius, Lithuania. At the end of the first quarter of this year, Urbo Bankas’ loan portfolio reached 438.9 million euros, an increase of 34.7% compared to the same period last year. The volume of deposits increased by 17.9% over the same period and amounted to 576.4 million euros.
AB Mano Bankas was the first in Lithuania to receive a specialized bank license in October 2018. He specializes in business loans and payment services.
