US Warns Chinese Firms Not to Evade Sanctions

Gina Raimondo, the US commerce secretary, issued a stern warning that Chinese companies helping Russia evade sanctions will be hit with “devastating” action, saying the US would cut them off from equipment and software they need to make their products, The New York Times reported.

Raimondo told the paper that the US could “essentially shut” companies such as Semiconductor Manufacturing International Corporation (SMIC) or any Chinese company that continues to supply chips or other advanced technology to Russia. The US, EU and other governments have issued sweeping sanctions and export controls that prohibit the sale of certain high-tech products.

Read the full report: The New York Times

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Tags: China-Russia Russia Sanctions

Neal McGrath

Neal McGrath is a New York-based financial journalist. Neal started his career covering the Asia-Pacific region for the Economist Intelligence Unit, then joined Asian Business magazine. He's subsequently held a variety of editorial positions covering business, economics, finance and sustainability. Neal has lived and worked in Hong Kong, Singapore, Germany and the US.