New U.S. sanction rules hit dozens of Chinese firms linked to military
(Worthy News) – The Treasury Department on Tuesday issued regulations to implement sanctions on 59 Chinese military companies aimed at blocking Beijing from building up its armed forces with cash obtained from U.S. financial markets.
The regulations prohibit all U.S. financial and stock companies and individual investors from engaging in securities trading that in any way financially benefits the named Chinese enterprises or their executives. The companies were designated as military entities earlier by the Pentagon.
The companies include a number of major Chinese aerospace and telecommunications firms, including Huawei Technologies, that have already been targeted by the U.S. government for its suspected links to Chinese intelligence services. [ Source: Washington Times (Read More…) ]
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