TSAMTO, April 24. China has revealed new details of previously announced sanctions against two American arms manufacturers, including a ban on Chinese companies doing business with them.
In February, China imposed trade and investment sanctions on Lockheed Martin and Raytheon Missiles & Defense for supplying weapons to Taiwan.
The Chinese Ministry of Commerce said in a statement on April 18 that the sanctions include banning the two companies from exporting and importing products to and from China "to prevent the use of Chinese products in their military business."
At the same time, Chinese companies should strengthen the structure of their "compliance systems for verifying transaction information" and should not knowingly do business with two American companies, including the import, export or transportation of products.
The sanctions also prohibit senior executives of both companies from visiting China or working there. The blacklist includes Lockheed Martin Chief Executive James Donald Tyklet, Production Director Frank Andrew St. John and Chief Financial Officer Jesus Malave, as well as President Wesley D. Kremer and Vice Presidents Agnes Soder and Chander Nizhon of Raytheon Missiles & Defense.
It is not yet clear what immediate consequences the imposed sanctions may have, but restrictions on imports and exports may cause some damage to both American companies. U.S. authorities impose bans on the sale of most weapons-related technology to China, but some military contractors also own civilian businesses in the aerospace industry and other markets.
Last September, Raytheon Missiles and Defense signed a contract worth $412 million. for the modernization of the military radar station in Taiwan as part of the package of American arms supplies to the island for $ 1.1 billion.
Taiwan buys most of its weapons from the United States, which is its largest unofficial ally.
