China imposes sanctions on U.S. defence firms and executives in retaliation for arms sales to Taiwan

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22nd May 2024 – (Beijing) The Chinese Ministry of Foreign Affairs announced on Wednesday that it would impose sanctions on twelve American defence contractors and ten of their top executives. This decision comes in response to what Beijing perceives as unwarranted unilateral sanctions imposed by the U.S. and ongoing arms sales to Taiwan.

The sanctions target prominent American defence corporations such as Lockheed Martin Missiles and Fire Control, Lockheed Martin Aeronautics, Javelin Joint Venture, Raytheon Systems, General Dynamics Armament and Tactical Systems, among others. The Chinese government has declared it will freeze its assets within China, impacting both movable and immovable property.

Furthermore, ten executives, including six from Northrop Grumman like Chairman and CEO Kathy J. Warden, will face travel bans restricting their entry into China, Hong Kong, and Macao. This measure extends to four executives from General Dynamics, highlighting the depth of Beijing’s retaliatory steps.

The Ministry criticised the U.S. for disregarding China’s neutral stance on the Ukraine crisis and leveraging it to justify economic bullying and coercion. According to Beijing, these actions severely infringe upon the legitimate rights of Chinese firms and individuals and breach the foundational norms governing Sino-American diplomatic relations.