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3/8, 10:25 PM (Source: TeleTrader)
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Chinese firms to be forced to honor sanctions

The United States can "essentially shut" down Chinese companies that do not act in accordance with the US sanctions against Russia, US Commerce Secretary Gina Raimondo said on Tuesday.

The Chinese firms could be cut off from US-made software and equipment needed to manufacture their products, Raimondo told the New York Times.

"We could essentially shut [Semiconductor Manufacturing International Corporation] (SMIC) down because we prevent them from using our equipment and our software," she concluded.

Baha Breaking News (BBN) / BU