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1/14, 5:45 PM (Source: TeleTrader)
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US places 2 more Chinese companies under sanctions

United States Department of Commerce released a statement on Thursday announcing that the Chinese National Overseas Oil Corporation (CNOOC) has been placed under sanctions, while Chinese aviation company Skyrizon to its to the Military End-User (MEU) List. According to the US government, both companies represent a threat to US national security.

The reason behind sanctioning CNOOC was the company’s alleged support and contribution to intimidation of neighbors in the South China Sea, while state-owned aviation company Skyrizon was penalized for its "capability to develop, produce, or maintain military items, such as military aircraft engines."

"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 civil-military fusion policies for malign purposes," the official statement noted.

Breaking the News / LH