Beijing sanctions US firms Lockheed Martin, Raytheon over Taiwan arms sales as ‘spy balloon’ row worsens

Name: China says US balloons flew over Xinjiang, Tibet as diplomatic row deepens
Uploaded: 2023-02-16T09:41:56.000Z
Duration: 3 min 30 s
Description: China says US balloons flew over Xinjiang, Tibet as diplomatic row deepens

Both firms will be prohibited from engaging in import and export activities related to mainland China, and banned from new investments there

Senior management personnel will also be barred from entry, commerce ministry statement says

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Senior management personnel of the two US enterprises will be prohibited from entering mainland China. Photo: Reuters

Amber Wangin Beijing

Published: 5:41pm, 16 Feb 2023Updated: 7:50pm, 16 Feb 2023

Beijing added Lockheed Martin Corporation and Raytheon Missiles and Defence to its sanctions list on Thursday for their involvement in Taiwan arms sales.

According to a statement from the Chinese commerce ministry, the two US weapons firms will be prohibited from engaging in import and export activities related to China.

They will also be banned from making new investments in the country.

Senior management personnel of the two enterprises will be prohibited from entry and fines will be imposed on the companies, according to the statement.

This comes after China warned yesterday that it would retaliate against the US over violations of its sovereignty and security, as tensions between the two countries escalate over the alleged “spy balloon” dispute.

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China says US balloons flew over Xinjiang, Tibet as diplomatic row deepens

This is not the first time the two US giants have been sanctioned by Beijing over their involvement in sales to Taipei.