By David Shepardson and Alexandra Alper WASHINGTON (Reuters) – The Trump administration on Thursday added China’s CNOOC (NYSE 🙂 to a U.S. economic blacklist, accusing the oil giant of helping Beijing intimidate neighbors in the U.S. South China Sea and increasing tension days before the United States. President-elect Joe Biden takes office. In addition to blacklisting CNOOC, the Commerce Department added China’s Skyrizon to the Military End-User (MEU) list for its ability to develop military products, including aircraft engines, restricting its access to exports. Americans. CNOOC and a Skyrizon legal representative did not immediately respond to requests for comment. The administration of President Donald Trump, who promised a hard line with China upon taking office, has kept up the pressure in its last days, pointing to what Washington sees as Beijing’s attempt to use corporations as a means to harness civilian technologies with military purposes. “China’s reckless and belligerent actions in the South China Sea and its aggressive push to acquire sensitive technology and intellectual property for its militarization efforts are a threat to the national security of the United States and the security of the international community,” he said Wilbur Ross, Secretary of Commerce. Department, which oversees the so-called list of entities. Companies on the entity list must receive a special license from the Department of Commerce before they can receive exports of high-tech items from US suppliers. The United States has long opposed China’s expansive territorial claims over the potentially resource-rich South China Sea. Washington accuses Beijing of trying to intimidate other coastal states in Southeast Asia. China says the United States has tried to provoke a controversy over maritime sovereignty claims in the area and has tried to destabilize the region by sending US military ships and aircraft to the South China Sea. “CNOOC acts as a bully for the People’s Liberation Army to intimidate China’s neighbors, and the Chinese military continues to benefit from government policies of civil-military fusion for evil purposes,” Ross added in the statement. The Commerce Department also accused CNOOC of harassing and threatening offshore oil and gas exploration and extraction in the South China Sea, “with the aim of increasing the political risk for interested foreign partners, including Vietnam.” Last month, CNOOC was added to a US blacklist of suspected Chinese military companies, forcing US investors to ditch their holdings in the company by November 2021.
US adds CNOOC to blacklist, says it helps China intimidate its neighbors By Reuters
Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will accept no responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading financial markets, it is one of the riskiest investment forms possible.