By Mike Stone, Alexandra Alper and David Brunnstrom
WASHINGTON, Jan 14 (.) – The Trump administration on Thursday imposed new sanctions towards China and a few of its largest companies for alleged violations within the South China Sea. It additionally added nine other companies from the Asian nation to its blacklist.
The measures additional improve pressure with China, Washington’s strategic rival in Asia, days earlier than President-elect Joe Biden takes workplace. The Democrat’s transition workforce didn’t instantly reply to a request for remark.
Executives of state-owned companies, leaders of the Chinese Communist Occasion and the army, in addition to the oil big CNOOC, will face new restrictions for allegedly coercing other states with claims over the South China Sea.
Senior US officers stated Thursday that the brand new restrictions on CNOOC won’t apply to crude oil, refined fuels and liquid pure gasoline, and won’t have an effect on CNOOC’s joint ventures working exterior the South China Sea.
The Pentagon additionally added nine other companies to its blacklist for alleged ties to the Chinese army, together with the plane producer Comac and the cellphone maker Xiaomi Corp.
These companies shall be topic to a brand new US funding ban.
Xiaomi’s shares have been down greater than 8% early on Friday – with the Dangle Seng index down 0.2% – whereas CNOOC shares have been up about 1%.
(Reporting by David Shepardson, Alexandra Alper, Lisa Lambert, David Brunnstrom, and Mike Stone in Washington; further reporting by Brenda Goh and Josh Horwitz in Shanghai and Tom Westbrook in Singapore; edited by Chris Sanders, Howard Goller, and Lincoln Feast; translated by Jorge Martinez.)
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