PwC Hong Kong partners to miss payouts after Evergrande-linked sanction
PwC is canceling planned payouts for its Hong Kong partners in order to retain capital for company operations after facing massive financial penalties over its flawed audits of the property developer China Evergrande. Partners will miss out on their remaining shares from the $2.2 billion sale of PwC’s global mobility business in 2022. Originally promised […]
Chinese firms that help Russia are next for EU sanctions
The EU is preparing to sanction four Chinese companies accused of supporting Russia’s war in Ukraine. These firms allegedly provide components for attack drones, chemicals for the military, and assistance to Russia’s “shadow fleet.” According to Politico, in addition to the Chinese firms, the sanctions proposal targets five companies in the UAE, three in Turkey, […]
U.S. Seafood Sanction Petition Against China
The Center for Biological Diversity has filed a formal petition urging the U.S. government to sanction China over its failure to meet American shark conservation standards. If enforced under the Moratorium Protection Act, this could lead to a total ban on $1.5 billion worth of Chinese seafood imports. Chinese distant-water fishing fleets are accused of […]
EU Sanctions Chinese, Iranian, and Pro-Russian Actors for Cyberattacks and Disinformation
The European Union has announced two new sets of sanctions targeting entities and individuals involved in cyber espionage and the spread of pro-Russian propaganda. The EU penalized two Chinese companies, one Iranian company, and two individuals for conducting cyberattacks against member states: Integrity Technology Group (China): Sanctioned for providing tools that were used to hack […]
UK Sanctions Russian and Chinese Groups Over Information Warfare
British government has sanctioned several Russian and Chinese organizations accused of undermining the West through cyberattacks and influence operations. Targets include the Russian Telegram channel Rybar (and its owner Mikhail Zvinchuk), the ‘Pravfond’ organization, and Chinese technology companies i-Soon and Integrity Technology Group. Speaking on the centenary of the Locarno Treaties, Foreign Secretary Yvette Cooper […]
EU sanctions state-linked Chinese oil companies over Russia war support
The European Union has sanctioned two mainland Chinese oil refineries and one Hong Kong-based oil trader as part of its latest efforts to hobble Russia’s war economy, drawing a stern rebuke from Beijing. The companies were listed in a broader package of sanctions agreed by the EU’s 27 member states on Thursday morning, punishing in […]
China targets five U.S. subsidiaries of South Korea’s Hanwha Ocean
China sacntioned five of South Korean shipbuilder Hanwha Ocean’s U.S. subsidiaries. This step is escalating tensions with Washington over their alleged involvement in a probe into the Chinese shipping industry. The sanctioned subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp., […]
7,500 Trucks Stuck as Kazakhstan Cracks Down on Russian Border Trade to Stop China Tech Transfers
Kazakhstan’s customs service has dramatically tightened inspections of cargo traffic bound for Russia, creating massive queues at border crossings. According to Kommersant on October 2, since mid-September officers have been inspecting 99% of trucks carrying potentially sanction-sensitive goods from China into Russia. This has triggered multi-kilometer jams along the Kazakh-Russian frontier. “Many carriers, fearing inspection, […]
China sanctions Japanese lawmaker for spreading ‘fallacies’
China’s Foreign Ministry said that it is imposing sanctions on Japanese lawmaker Seki Hei for spreading “fallacies” about issues related to Taiwan and other disputes between the two countries. Hei, a member of the House of Councilors of the National Diet of Japan, is a China-born naturalized Japanese citizen who is also known by his […]
China Sanctions Two Lithuanian Banks in Retaliation Against EU Measures
China has sanctioned two Lithuanian lenders, UAB Urbo Bankas and AB Mano Bankas, in response to the European Union’s decision last month to target Chinese financial institutions over alleged links to Russia’s war in Ukraine. The Ministry of Commerce announced that the banks are now on Beijing’s countermeasure list, prohibiting Chinese organizations and individuals from […]