U S Adds Chinese Oil Giant CNOOC to Blacklist – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.
The Chinese National Overseas Oil Corporation was blacklisted by the U.S. Commerce Department Thursday after reports that it aided China in its efforts to "intimidate" neighbors in the South China Sea.
Publishing date: Jan 14, 2021 • January 14, 2021 • 3 minute read •
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WASHINGTON The United States announced sanctions on officials of Chinese state-owned enterprises and military on Thursday and added Chinese oil giant CNOOC to an economic blacklist, accusing them using coercion against states with rival claims in the South China Sea.
The moves by the Trump administration will further increase tensions with China, Washington’s strategic rival in Asia, days before President-elect Joe Biden takes office on Jan. 20.
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Rounding out an already-intense 2020, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued three notices in December that expanded export sanctions and restrictions against Chinese, Russian, and other enterprises and institutions accused of engaging in activities contrary to U.S. interests. On December 18, BIS announced export sanctions against Semiconductor Manufacturing International Corporation (“SMIC”), the largest semiconductor producer in the People’s Republic of China (“PRC”), along with 76 other entities, the vast majority of which are PRC enterprises and research institutes. On December 23, BIS created a new Military End User (“MEU”) List that designates specific PRC and Russian entities for more stringent export licensing requirements under the MEU rule expanded by BIS earlier in the year. Finally, also on December 23, BIS officially terminated Hong Kong’s s