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Monday November 30, 2020

Addicted to sanctions, Trump used them until the last moment of his presidency

The world – the Americas

His administration is preparing to add four Chinese companies to the blacklist of companies supported by the Chinese army, which limits the possibility of their dealings with American investors, according to Reuters, according to a document and sources.

These companies are SMIC, which is the largest manufacturer of chips in China, China National Oil and Gas Corporation (CNOOC), as well as China Building Technology Corporation, and China International Engineering Consultants Corporation.

The “Chinese Communist Military Companies” is a regulation created under a law passed in 1999 that obliges the US Department of Defense (the Pentagon) to compile a list of companies owned or controlled by the Chinese military.

The aforementioned companies join other giants on the list, such as “Hikvision” for digital technology and “China Mobile”.

Last September, the US Department of Commerce imposed restrictions on SMIC exports due to the “risk” of using the equipment supplied to it for military purposes.

A few days ago, the US President issued an executive order aimed at making this list more effective by preventing American investors from purchasing securities of the companies listed therein, as of November 2021.

The expected move comes within the framework of the US president’s hard-line policy towards China, and within the framework of Washington’s efforts to prevent Beijing from harnessing civilian technology for military purposes.

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