Tensions between the European Union and China have escalated sharply as the EU imposed sanctions on Chinese banks and companies for allegedly aiding Russia's war effort in Ukraine.
This marks the first time the EU has targeted Chinese financial institutions in its sanctions against Russia, prompting fierce protests and threats of retaliation from Beijing. EU leaders are pressing China to use its influence over Russia to help end the war in Ukraine, warning that China's stance on the conflict will be the 'determining factor' in future EU-China relations. China has rejected the EU's demands, insisting its cooperation with Russia is legitimate and vowing to defend its economic interests.
The dispute sets the stage for a tense EU-China summit, with both sides warning of serious consequences for their economic and diplomatic ties.
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