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#Pentagon blacklists China chipmaker SMIC and oil producer CNOOC
The Department of Defense designated a total of four companies as being either owned or controlled by the People’s Liberation Army, including China’s largest chipmarker, SMIC and national offshore oil and gas producer, CNOOC. The total number of blacklisted firms is 35 after adding these 4 companies.
U.S. officials have long complained that Chinese companies are beholden to the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army.
The U.S. Commerce Department informed some firms that a license is needed before supplying goods and services to SMIC which equipment could be used for military purpose. SMIC replies heavily on U.S. suppliers.
Source: CNBC #Dec03
https://www.cnbc.com/2020/12/03/pentagon-blacklists-china-chipmaker-smic-and-oil-producer-cnooc-.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
#USSanction #SMIC #CNOOC #China #PLA #CCP
The Department of Defense designated a total of four companies as being either owned or controlled by the People’s Liberation Army, including China’s largest chipmarker, SMIC and national offshore oil and gas producer, CNOOC. The total number of blacklisted firms is 35 after adding these 4 companies.
U.S. officials have long complained that Chinese companies are beholden to the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army.
The U.S. Commerce Department informed some firms that a license is needed before supplying goods and services to SMIC which equipment could be used for military purpose. SMIC replies heavily on U.S. suppliers.
Source: CNBC #Dec03
https://www.cnbc.com/2020/12/03/pentagon-blacklists-china-chipmaker-smic-and-oil-producer-cnooc-.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
#USSanction #SMIC #CNOOC #China #PLA #CCP
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FTSE Russell to drop eight Chinese firms after U.S. blacklisting
Index provider FTSE Russell said they would delete shares of video security firm Hikvision and seven other Chinese companies from certain products after a U.S. order restricting purchase of their shares.
A spokesman for owner London Stock Exchange Group FTSE Russell said it acted on feedback from index subscribers and other stakeholders, and was following its policy when sanctions are imposed that restrict investments. He added that deletions from its FTSE Global Equity Index Series and several others would take effect on Dec. 21.
“We would expect all index providers to ultimately remove some Chinese securities in an effort to comply with the U.S. restrictions,” Todd Rosenbluth, head of ETF and mutual fund research for CFRA, said via e-mail.
Source: Reuters #Dec05
https://mobile.reuters.com/article/amp/idUSKBN28F008
#FTSE #USSanction #Hikvision #China
Index provider FTSE Russell said they would delete shares of video security firm Hikvision and seven other Chinese companies from certain products after a U.S. order restricting purchase of their shares.
A spokesman for owner London Stock Exchange Group FTSE Russell said it acted on feedback from index subscribers and other stakeholders, and was following its policy when sanctions are imposed that restrict investments. He added that deletions from its FTSE Global Equity Index Series and several others would take effect on Dec. 21.
“We would expect all index providers to ultimately remove some Chinese securities in an effort to comply with the U.S. restrictions,” Todd Rosenbluth, head of ETF and mutual fund research for CFRA, said via e-mail.
Source: Reuters #Dec05
https://mobile.reuters.com/article/amp/idUSKBN28F008
#FTSE #USSanction #Hikvision #China
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Covert Chinese Trade With North Korea Moves Into the Open
China is no longer trying to hide smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say
A satellite photos provided by the United Nations Security Council showed a Chinese-flagged barge being loaded coal at North Korea’s Nampo in June, and North Korean-flagged coal vessels near Ningbo-Zhoushan in China in August
“North Korea is not bothering with this anymore. The shipments are directly from North Korea to China,” the U.S. official said. “That is definitely a big change from what we saw initially after the adoption of sanctions ”
Assuming the coal sold for $80 to $100 a ton in 2020, the value of the North Korea exports would range between $330 million and $410 million. The revenue is particularly significant given North Korea’s decision to cut cross-border trade with China to try to insulate itself from the global pandemic.
North Korea has other forms of illicit revenue, U.S. and U.N. experts say. the U.S. alleged that China hosts at least 20,000 North Korean laborers, who send their earnings home.
Source: WSJ #Dec07
https://www.wsj.com/articles/covert-chinese-trade-with-north-korea-moves-into-the-open-11607345372?st=0vx98kq7kj4relh&reflink=article_copyURL_share
#NorthKorea #China #USSanction #Smuggling
China is no longer trying to hide smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say
A satellite photos provided by the United Nations Security Council showed a Chinese-flagged barge being loaded coal at North Korea’s Nampo in June, and North Korean-flagged coal vessels near Ningbo-Zhoushan in China in August
“North Korea is not bothering with this anymore. The shipments are directly from North Korea to China,” the U.S. official said. “That is definitely a big change from what we saw initially after the adoption of sanctions ”
Assuming the coal sold for $80 to $100 a ton in 2020, the value of the North Korea exports would range between $330 million and $410 million. The revenue is particularly significant given North Korea’s decision to cut cross-border trade with China to try to insulate itself from the global pandemic.
North Korea has other forms of illicit revenue, U.S. and U.N. experts say. the U.S. alleged that China hosts at least 20,000 North Korean laborers, who send their earnings home.
Source: WSJ #Dec07
https://www.wsj.com/articles/covert-chinese-trade-with-north-korea-moves-into-the-open-11607345372?st=0vx98kq7kj4relh&reflink=article_copyURL_share
#NorthKorea #China #USSanction #Smuggling
WSJ
Covert Chinese Trade With North Korea Moves Into the Open
China is increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say.
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China Buys More Iranian and Venezuelan Oil, in a Test for Biden
China has sharply increased its imports of oil from Iran and Venezuela in a challenge to two Biden administration foreign-policy priorities, according to U.S. officials.
That trend is confirmed by other shipping trackers, some of which see those sales at 1 million barrels a day.
China is also increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang, U.S. officials said recently.
“The informal Chinese purchases have reduced the need to negotiate on oil sanctions” for Tehran, one Iran-focused U.S. official said.
Source: WJS #Mar19
https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203
#IranianOil #ChinaIran #VenezuelanOil #USSanction
China has sharply increased its imports of oil from Iran and Venezuela in a challenge to two Biden administration foreign-policy priorities, according to U.S. officials.
That trend is confirmed by other shipping trackers, some of which see those sales at 1 million barrels a day.
China is also increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang, U.S. officials said recently.
“The informal Chinese purchases have reduced the need to negotiate on oil sanctions” for Tehran, one Iran-focused U.S. official said.
Source: WJS #Mar19
https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203
#IranianOil #ChinaIran #VenezuelanOil #USSanction