U.S. provides CNOOC to black record, saying it helps China intimidate neighbors By Reuters

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By David Shepardson and Alexandra Alper

WASHINGTON (Reuters) – The Trump administration added China’s CNOOC (NYSE:) to a U.S. financial blacklist on Thursday, accusing the oil large of serving to Beijing intimidate neighbors within the South China Sea and ratcheting up pressure days earlier than U.S. President-elect Joe Biden takes workplace.

Alongside blacklisting CNOOC, the Commerce Division added China’s Skyrizon to the Army Finish-Consumer (MEU) Listing over its means to develop army merchandise together with plane engines, proscribing its entry to U.S. exports.

CNOOC and a authorized consultant of Skyrizon didn’t instantly reply to requests for remark.

The administration of President Donald Trump, who promised a troublesome line on China on taking workplace, has saved up the stress in its closing days, focusing on what Washington sees as Beijing’s bid to make use of firms as a way to harness civilian applied sciences for army functions.

“China’s reckless and belligerent actions within the South China Sea and its aggressive push to amass delicate mental property and expertise for its militarization efforts are a risk to U.S. nationwide Safety and the safety of the worldwide neighborhood,” stated Wilbur Ross, secretary of the Commerce Division, which oversees the so-called entity record.

Firms on the entity record have to be granted a particular license from the Commerce Division earlier than they will obtain exports of high-tech gadgets from U.S. suppliers.

The USA has lengthy opposed China’s expansive territorial claims on the possibly resource-rich South China Sea. Washington accuses Beijing of in search of to intimidate different Southeast Asian coastal states.

China says the USA has sought to fire up controversy over maritime sovereignty claims within the space and has tried to destabilize the area by sending U.S. army ships and planes to the South China Sea.

“CNOOC acts a bully for the Individuals’s Liberation Military to intimidate China’s neighbors, and the Chinese language army continues to learn from authorities civil-military fusion insurance policies for malign functions,” Ross added within the assertion.

The Commerce Division additionally accused CNOOC of harassing and threatening offshore oil and fuel exploration and extraction within the South China Sea, “with the aim of driving up the political threat for international companions, together with Vietnam.”

Final month, CNOOC was added to a U.S. blacklist of alleged Chinese language army corporations, forcing U.S. buyers to shed their holdings within the firm by November 2021.

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