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China Accuses United States of Violating International Law with Sanctions

currencycoach by currencycoach
October 25, 2024
in Forex trading
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China Accuses United States of Violating International Law with Sanctions
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The Chinese government has accused U.S. authorities of violating international law with the imposition of a new sanctions package against six companies.

These sanctions are based on allegations that the companies engaged in activities detrimental to U.S. security and that they facilitated Russia’s evasion of international sanctions imposed against it.

He Yadong, spokesperson for the Ministry of Commerce of China, expressed the country’s “firm opposition” to these restrictions, which the U.S. claims are necessary due to the cooperation between these export companies and the Russian government. He asserted, “China resolutely opposes unilateral sanctions that do not respect international law and are not authorized by the United Nations Security Council.”

In response, the Chinese government plans to take necessary measures to defend these companies against what it describes as “malicious” and dangerous actions. He also emphasized the importance of export controls, particularly regarding arms exports.

Washington announced the new sanctions on Monday, citing the companies’ involvement in activities contrary to U.S. national security interests. This escalation adds to the ongoing tensions between the U.S. and China, highlighting the complexities of international trade and geopolitical dynamics.

In other relevant news, U.S. federal authorities announced on Thursday that they have secured more than $100 million in compensation following a settlement with the Singaporean companies that own and operate the container ship responsible for the collapse of a key bridge in the U.S. economy.

On March 26, the container ship Dali, departing from the port of Baltimore (East Coast), experienced electrical failures and became lodged in the Francis Scott Key highway bridge, which subsequently collapsed. The incident raised significant concerns regarding infrastructure safety and the economic implications of such disruptions.

The settlement is expected to help cover the costs associated with the damages and recovery efforts stemming from the bridge collapse, highlighting the accountability measures being enforced in such maritime accidents.





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