Cnooc and the US share ban [NGW Magazine]
Jan 25, 2021 10:05:am
Summary Tensions between the US and China have worsened as Beijing intimidates countries with a South China Sea coastline, but technology might prove a better target than hydrocarbons. [NGW Magazine Volume 6, Issue 2]
by: Shi Weijun
A looming ban in the US on trading shares of China’s Cnooc might be just the beginning of trouble for the national oil company, as further escalations could see it delisted from the New York stock exchange or even shut out of the US financial system.
The US ministry of finance confirmed in new guidelines late last year that American investors will be barred from trading shares of Cnooc and its subsidiaries, as well as any index funds that list securities issued by any of its units, from the start of February.