(TheConservativeTimes.org) – The United States recently added multiple Chinese firms to its export control list, which China says they “resolutely oppose.” The decision was put in place to prevent Russia from getting hold of advanced U.S. technology they could use for weapons in their war against Ukraine.
This move was “a typical act of unilateral sanctions and long-arm jurisdiction,” according to a spokesperson from the Chinese Ministry of Commerce. It also “undermines the international trade order and rules and impacts the security and stability of global industrial and supply chains.”
The United States said that they are 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.”
There were over one hundred entities added to the control list, including over forty from China, sixty from Russia, and a few more from Iran, Türkiye, and Cyprus. The firms on the list are subjected to export restrictions and licensing requirements for certain goods.
Alan Estevez, the Undersecretary of Commerce for Industry and Security, said, “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.”
The Biden Administration has been setting trade restrictions and export limitations across the globe as multiple risks are taken into account. They have put restrictions on multiple countries, including the UAE, China, Russia, India, and South Korea.
Copyright 2024, TheConservativeTimes.org
