The US punished more Iranian and Chinese businesses

The US government on January 5 added to the list of sanctions against a Chinese company, 12 Iranian metal and steel producers and 3 overseas sales agents for an Iranian joint stock company.

Many Iranian businesses on the US sanctions list. (Source: aljazeera)

According to the VNA correspondent in Washington, the US government on January 5 added punishment list 1 Chinese company specializing in the production of materials for steel production, 12 Iranian steel and steel producers and 3 overseas sales agents for a mining and metal joint stock company big of Iran.

According to a statement by the US Department of Commerce, Washington has been listed as a punishment for Kaifeng Pingmei New Carbon Materials Technology Co., Ltd. because Chinese enterprises have supplied thousands of tons of materials to Iranian steel companies in the period from December 2019 to June 2020.

Among the Iranian companies listed above are Pasargad Steel Complex and Gilan Steel Complex, which were sanctioned under Executive Ordinance 13871 for their activities in Iran’s steel industry.

Also on January 5, a senior official in US government said President Donald Trump signed an executive order to prohibit transactions with eight Chinese software applications.

Accordingly, the banned Chinese apps include Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay and WPS Office.

This decree was introduced to limit the so-called “threat” to Americans caused by Chinese software applications. These softwares inherently have many users and access to sensitive data.

The US Department of Commerce will have 45 days to determine which transactions will be banned under the decree, which is believed to target QQ Wallet software and WeChat pay by Tencent Holdings Ltd. However, the Department of Date plans to act before January 20 when President Trump leaves office.

However, any transaction banned by the Trump administration will likely face legal challenges in court just like previous trading bans with WeChat and TikTok blocked by federal judges. .

This is the latest move that could cause tensions between the US and China to continue to escalate. Previously, the Trump administration also banned the download of WeChat and TikTok apps owned by China in the US.

Also regarding the sanctions on Chinese businesses, a reliable source said US Treasury Secretary Steven Mnuchin had a telephone conversation with Stacey Cunningham, chairman of the New York Stock Exchange. (NYSE).

During the discussion, Mr. Mnuchin said he disagreed with Ms. Cunningham’s decision to allow three Chinese telecommunications companies to continue listing on the NYSE.

Previously, on January 4, NYSE announced to cancel the listing of Chinese telecommunications companies, including China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd, after consulting with relevant US regulatory agencies.

The NYSE’s decision was contrary to the ban on US investments Chinese company which Washington says is owned or controlled by the military, enacted by President Donald Trump in November 2020./.

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