World News | China Will Not Join Sanctions Against Russia: Banking Authority

Beijing [China], March 2 (ANI): Amid the ongoing military operations in Ukraine, China restrained itself from putting sanctions against Russia, and will continue to maintain financial cooperation with all parties, media reported citing bank official on Wednesday.

Guo Shuqing, the head of the China Banking and Insurance Regulatory Committee (CBIRC), said: "We will not join such sanctions, and we will continue to maintain normal trade, economic and financial ties with the relevant parties," reported Sputnik News Agency.

Also Read | Russian Missile Strike Hit Buildings in Ukraine’s City Zhytomyr, Rescue Efforts Underway.

Meanwhile, Russia's largest lender, Sberbank is leaving almost all European markets,i n a major move that comes amid pressure from Western sanctions levelled against Russia's largest lender in response to Moscow's invasion of Ukraine.

The European Union is now moving to cut off seven Russian banks from SWIFT, including VTB, Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank, and VEB.RF., Sputnik reported. (ANI)

Also Read | Crude Oil Price Soars to $113 A Barrel as Russia-Ukraine Conflict Worsens.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)