On the lifting of sanctions imposed by China on UAB Urbo Bankas

Information published on the website of China’s Ministry of Commerce states that China has decided to lift the countermeasures imposed in August 2025 on two European Union banks, including UAB Urbo Bankas. The decision, which entered into force on April 24, notes that the retaliatory sanctions on EU banks were removed after the EU announced on April 23 the lifting of sanctions on two Chinese financial institutions.

The sanctions did not have a material impact on the Bank’s operations, as the volume of the Bank’s client transfers to accounts held by clients of Chinese financial institutions constituted an insignificant share of the Bank’s total number of transfers even prior to the imposition of the sanctions.