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 directly targeted Chinese financial institutions, prompting Beijing to issue strong protests and threaten retaliatory measures. EU leaders are pressing China to use its influence over Russia to help end the conflict in Ukraine, warning that Beijing's stance on the war will be the 'determining factor' in future EU-China relations. China, meanwhile, insists its cooperation with Russia is legitimate and accuses the EU of harming Chinese interests and overstepping its bounds.
The dispute comes ahead of a critical EU-China summit, with both sides signaling that economic and diplomatic ties are at a crossroads.
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