BEIJING, August 13. /TASS/. Chinese authorities introduced restrictions against two financial institutions of the European Union as a tit-for-tat measure for its sanctions, the Chinese Ministry of Commerce said.

Retaliatory measures of Beijing apply to UAB Urbo Bankas and AB Mano Bankas, the ministry said.

The action was made in accordance with the Chinese law on countering foreign sanctions with the approval by an appropriate coordination mechanism of China. Chinese organizations and individuals have no right to make deals and promote cooperation with mentioned financial institutions of the European Union.

Sanctions against Russia that affected Chinese organizations constitute "a material violation of international law and fundamental standards of international relations, inflicting serious damage to legitimate rights and interests of Chinese businesses," the ministry indicated.

In mid-July, the EU announced introduction of the 18th package of anti-Russian sanctions and included several Chinese organizations there, including two financial institutions.