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WASHINGTON: The US Commerce Department on Thursday added China’s state oil big CNOOC to its blacklist over what it known as “belligerent” actions within the disputed South China Sea.
The transfer was the newest in escalating sanctions in opposition to the agency that prompted S&P Dow Jones Indices to de-list the corporate late Wednesday.
It additionally displays outgoing President Donald Trump’s flurry of final minute strain on Beijing as his days in workplace wind down, following 4 years of aggressive diplomatic and commerce insurance policies in opposition to the rival financial energy.
“China’s reckless and belligerent actions in the South China Sea and its aggressive push to acquire sensitive intellectual property and technology for its militarization efforts are a threat to US national security and the security of the international community,” Commerce Secretary Wilbur Ross mentioned in a press release.
“CNOOC acts 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 territorial dispute has festered for years, with Beijing ignoring US protests because it constructed a sequence of synthetic islands to increase its army and industrial attain within the area that’s believed to have invaluable oil and gasoline deposits.
China claims almost all the South China Sea, together with the Spratly Islands, although Taiwan, the Philippines, Brunei, Malaysia and Vietnam all declare elements of it.
“CNOOC has repeatedly harassed and threatened offshore oil and gas exploration and extraction in the South China Sea, with the goal of driving up the political risk for interested foreign partners, including Vietnam,” the Commerce Department mentioned.
Commerce’s choice follows the Treasury Department announcement final week that it might add CNOOC to its sanctions listing, which intention to freeze any belongings beneath US jurisdiction and bans American companies — together with banks and different firms with branches within the United States — from doing enterprise with them.
S&P Dow Jones Indices mentioned the corporate will strip CNOOC from its shares listing “on or before February 1.”
Commerce additionally tightened restrictions on Chinese tech agency Skyrizon, citing ties to the Chinese army which “pose a significant threat to US national security and foreign policy interests,” Ross mentioned.
That means US companies will want a license to do enterprise with the corporate.
The transfer was the newest in escalating sanctions in opposition to the agency that prompted S&P Dow Jones Indices to de-list the corporate late Wednesday.
It additionally displays outgoing President Donald Trump’s flurry of final minute strain on Beijing as his days in workplace wind down, following 4 years of aggressive diplomatic and commerce insurance policies in opposition to the rival financial energy.
“China’s reckless and belligerent actions in the South China Sea and its aggressive push to acquire sensitive intellectual property and technology for its militarization efforts are a threat to US national security and the security of the international community,” Commerce Secretary Wilbur Ross mentioned in a press release.
“CNOOC acts 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 territorial dispute has festered for years, with Beijing ignoring US protests because it constructed a sequence of synthetic islands to increase its army and industrial attain within the area that’s believed to have invaluable oil and gasoline deposits.
China claims almost all the South China Sea, together with the Spratly Islands, although Taiwan, the Philippines, Brunei, Malaysia and Vietnam all declare elements of it.
“CNOOC has repeatedly harassed and threatened offshore oil and gas exploration and extraction in the South China Sea, with the goal of driving up the political risk for interested foreign partners, including Vietnam,” the Commerce Department mentioned.
Commerce’s choice follows the Treasury Department announcement final week that it might add CNOOC to its sanctions listing, which intention to freeze any belongings beneath US jurisdiction and bans American companies — together with banks and different firms with branches within the United States — from doing enterprise with them.
S&P Dow Jones Indices mentioned the corporate will strip CNOOC from its shares listing “on or before February 1.”
Commerce additionally tightened restrictions on Chinese tech agency Skyrizon, citing ties to the Chinese army which “pose a significant threat to US national security and foreign policy interests,” Ross mentioned.
That means US companies will want a license to do enterprise with the corporate.
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