On the 20th, China's Ministry of Commerce announced that it has decided to impose sanctions on the defense sector of the U.S. company Boeing, which was involved in arms sales to Taiwan.
Through its website, the Ministry of Commerce stated, "To protect national sovereignty, security, and development interests, the U.S. Boeing defense sector has been included in the list of 'unreliable entities.'"
According to the sanctions, the Ministry of Commerce will prohibit export-import activities and new investments related to China by Boeing's defense sector, and will also deny entry to senior executives. Additionally, it announced that work permits and residence qualifications for senior executives of the company will not be approved.
The Ministry of Commerce also explained that it will impose a fine on Boeing amounting to twice the contract value of arms sales to Taiwan, and the company must pay the fine within 15 days from the date of the announcement.
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