FX.co ★ Washington targets 37 China’s firms for ties with Russia

Beijing is dissatisfied with a fresh package of US sanctions on Chinese companies. Last week, China’s Ministry of Commerce condemned US lawmakers for slapping another package of sanctions. Washington accuses high-tech Chinese companies of cooperating with Russia. However, Beijing denies any links with Moscow and defines the new restrictions of the White House as unfair.

According to China’s Ministry of Commerce, US legislators have added 37 Chinese companies to the export control list for their “support for Russia’s military and ties with Moscow." "China strongly opposes such accusations," Beijing emphasised.

China’s Ministry of Commerce notes that the White House "has long abused export control measures and has been stepping up pressure over foreign companies, damaging their legitimate interests." China’s authorities insist that the US assertive policy undermines the security and stability of global industrial chains. Furthermore, this strategy hinders the recovery of the global economy.

Previously, US Secretary of Commerce Gina Raimondo stated that Washington does not intend to completely sever trade ties with China in the technology sector. However, the American authorities are ready to tighten control over the sale of dual-use technologies to China, the official added.