U.S. President Joe Biden and Chinese language President Xi Jinping earlier than a gathering through the Asia-Pacific Financial Cooperation leaders’ week in Woodside, California, Nov. 15, 2023.
Brendan Smialowski | Afp | Getty Pictures
China on Sunday stated it “resolutely opposes” the U.S. resolution so as to add a number of Chinese language entities to its export management record in a bid to additional curb Russia’s entry to superior U.S. expertise required for its weapons.
In a assertion printed on state media Xinhua, a spokesperson from China’s Ministry of Commerce known as the transfer “a typical act of unilateral sanctions and long-arm jurisdiction.”
The spokesperson additionally stated the act “undermines the international trade order and rules” and impacts the “security and stability of global industrial and supply chains.” The spokesperson stated Beijing will take motion to safeguard the rights and pursuits of Chinese language corporations.
The U.S. on Friday stated it’s tightening export controls to “further restrict the supply of both U.S.-origin and ‘U.S. branded’ items to Russia and Belarus for the Kremlin’s illegal war on Ukraine.”
A complete of 123 entities have been added to the record, together with 42 situated in China, 63 from Russia and 14 in Türkiye, Iran, and Cyprus.
Companies on the “Entity List” are subjected to export restrictions and licensing necessities for sure applied sciences and items.
“We will continue our multilateral approach to attack this problem from all sides and use every tool in our arsenal to prevent Russia from gaining access to the advanced U.S. technology needed for its weapons,” Undersecretary of Commerce for Trade and Safety Alan Estevez stated in a press release.
The U.S. additionally focused diversion by shell firms by including 4 “high-diversion risk addresses” in Hong Kong and Türkiye to the Entity Checklist. Events utilizing these addresses to conduct transactions would require a license to take action.
The Biden administration in February imposed commerce restrictions on 93 entities from Russia, China, Türkiye, the United Arab Emirates, Kyrgyzstan, India and South Korea for allegedly supporting Russia’s struggle effort in Ukraine.
In April, the Workplace of the U.S. Commerce Consultant initiated a probe into China’s maritime, logistics and shipbuilding industries, alleging that Beijing used “unfair, non-market policies and practices” to dominate these sectors.
