The European Union has sanctioned two small Chinese banks in its latest package of measures designed to hobble Russia’s war machine, despite a warning from Beijing to expect consequences. Suifenhe Rural Commercial Bank and Heihe Rural Commercial Bank,

The EU also targeted the Nord Stream pipelines between Russia and Germany to prevent Putin from generating any revenue from them in future, notably by discouraging would-be investors. Russian energy giant Rosneft’s refinery in India was hit as well.

The European Union approved a new series of sanctions against Russia on Friday in response to its ongoing war in Ukraine. The measures include a lower oil price cap, a ban on transactions involving the Nord Stream gas pipelines,