Tensions are escalating between the European Union and China as the EU imposes sanctions on Chinese banks and companies accused of aiding Russia's war effort in Ukraine. For the first time, the EU has targeted Chinese financial institutions in its latest sanctions package, prompting strong protests and threats of retaliation from Beijing. EU leaders are urging China to use its influence to pressure Russia to end the war, warning that China's relationship with Russia is now the 'determining factor' in EU-China relations. China, meanwhile, insists its cooperation with Russia is legitimate and rejects external interference, vowing to defend its economic interests. The standoff comes ahead of a high-stakes EU-China summit, with both sides warning of serious consequences for future diplomatic and economic ties.
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