FX.co ★ China retaliates with sanctions on US defense-related companies and their executives

Beijing has expressed its deep disappointment over the US sanctions on Chinese imports. In response, China has prepared retaliatory measures, targeting 12 defense-related American companies, marking a step in its tit-for-tat competition with Washington.

China's foreign ministry announced restrictions on 12 companies involved in the US military-industrial complex and ten senior executives, citing the US arming of Taiwan and recent sanctions imposed by Washington on Chinese enterprises linked to Russia.

The list of US companies subject to sanctions includes Lockheed Martin Missiles and Fire Control, Lockheed Martin Aeronautics, Javelin Joint Venture, Raytheon Missiles, General Dynamics Ordnance and Tactical Systems, General Dynamics Information Technology, General Dynamics Mission Systems, Intercoastal Electronics, System Studies and Simulation, Iron Mountain Solutions, Applied Technology Group, and Arcient.

According to China's foreign ministry, the Biden administration has long ignored China's stance on the Russia-Ukraine conflict and has imposed "illegal unilateral sanctions." As for Washington's arming of Taiwan, the ministry believes that such moves "seriously undermine China's sovereignty." Against this background, the real estate and other assets of the aforementioned businesses operating in China will be frozen.

Personal sanctions, including travel bans to China, have been announced against Northrop Grumman Corporation President Kathy Warden and its vice presidents, Matthew Bromberg, Benjamin Davis, Thomas Jones, Steven O'Bryan, and Roshan Roeder. General Dynamics Vice Presidents Firat Gezen, Jason Aiken, Amy Gilliland, and Christopher Brady are also subject to these restrictions.

Earlier, Beijing imposed sanctions against General Atomics Aeronautical Systems, General Dynamics Land Systems, as well as Boeing’s Defense, Space & Security unit. Owing to arms sales to Taiwan, the Chinese government banned these firms from importing and exporting products to and from China and investing in the country. It also prohibited their senior executives from entering China and obtaining residency permits.