WORLD

China reveals new details of Raytheon, Lockheed sanctions

Apr 18, 2023, 7:55 AM

TAIPEI, Taiwan (AP) — China revealed new details of sanctions it previously announced against two U.S. weapons manufacturers Tuesday, including a ban on Chinese companies doing business with them.

China imposed trade and investment sanctions in February on Lockheed Martin and Raytheon Technologies Corp.’s Raytheon Missiles & Defense for supplying weapons to Taiwan, the self-governed island claimed by China.

China’s Ministry of Commerce said in a statement late Tuesday that the sanctions include a ban on exports and imports by the two companies from and to China “to prevent Chinese products from being used in their military business.”

It added that Chinese companies should “strengthen their due diligence and compliance system construction to verify transaction information” and should not knowingly conduct business with the two companies while importing, exporting or transporting products.

It wasn’t clear what immediate impact the penalties might have, but the restrictions on imports and exports could hurt the two companies. The United States bars most sales of weapons-related technology to China, but some military contractors also have civilian businesses in aerospace and other markets.

Last September, Raytheon Missiles and Defense was awarded a $412 million contract to upgrade Taiwanese military radar as part of a $1.1 billion package of U.S. arms sales to the island.

Taiwan buys the majority of its weapons from the U.S., which is its biggest unofficial ally. In recent years, China has frequently sent fighter jets and warships toward the island, surrounding it at different times in a campaign of military pressure and intimidation.

The sanctions also prohibit the senior executives of both companies from traveling to China or working there. They listed Lockheed Martin CEO James Donald Taiclet, COO Frank Andrew St. John and CFO Jesus Malave, and President Wesley D. Kremer and Vice Presidents Agnes Soeder and Chander Nijhon from Raytheon Missiles & Defense.

World

Associated Press

Israel’s army says it will pause daytime fighting along a route in southern Gaza to help flow of aid

JERUSALEM (AP) — Israel’s military announced on Sunday that it would pause fighting during daytime hours along a route in southern Gaza to free up a backlog of humanitarian aid deliveries for desperate Palestinians enduring a humanitarian crisis sparked by the war, now in its ninth month. The “tactical pause,” which applies to about 12 […]

15 hours ago

Associated Press

World leaders meet in Switzerland to discuss a Ukraine peace roadmap. Russia is notably absent

OBBÜRGEN, Switzerland (AP) — Dozens of world leaders converged on a Swiss resort Saturday to discuss how to bring peace to war-ravaged Ukraine, though any hopes of a real breakthrough were muted by the absence of Russia. More than two years into the war, the combatants remain as far apart as they’ve ever been, with […]

2 days ago

Associated Press

Stock market today: Global shares are mixed and yen weakens as Japan’s central bank stands pat

TOKYO (AP) — Global shares were mixed on Friday after Wall Street touched fresh records, with benchmarks pushed higher by the frenzy over artificial-intelligence technology. France’s CAC 40 dropped 1.3% in early trading to 7,606.73 while Germany’s DAX dipped 0.5% to 18,174.98. Britain’s FTSE 100 fell 0.2% to 8,143.79. The future for the Dow Jones […]

3 days ago

Associated Press

Muslims start the Hajj against the backdrop of the devastating Israel-Hamas war

MINA, Saudi Arabia (AP) — In sweltering temperatures, Muslim pilgrims in the Saudi city of Mecca converged on a vast desert tent camp Friday, officially starting the annual Hajj pilgrimage. Earlier, they circled the cube-shaped Kaaba in the Grand Mosque, Islam’s holiest site. More than 1.5 million pilgrims from around the world have already amassed […]

3 days ago

Associated Press

British coroner criticizes US government over death of teen motorcyclist Harry Dunn in 2019

LONDON (AP) — A British coroner criticised the U.S. government on Thursday over a lack of training for diplomatic personnel prior to a road accident in August 2019 that saw a teenage motorcyclist killed by one of its employees. At the end of a four-day inquiry into the accident outside RAF Croughton, an air base […]

3 days ago

Associated Press

Israelis and Palestinians are hopeful but cautious over the latest cease-fire proposal

TEL AVIV, Israel (AP) — A proposed cease-fire deal between Israel and Hamas is raising hopes that eight months of fighting could soon come to an end. Displaced Palestinians are desperate to return home and rebuild, while Israelis yearn for dozens of captives taken by Hamas to be freed. The U.S.-backed proposal is the latest […]

3 days ago

China reveals new details of Raytheon, Lockheed sanctions