The Chinese government announced on the 21st that it would impose sanctions such as asset freezes on some subsidiaries of the U.S. defense contractor Lockheed Martin, citing arms sales to Taiwan as the reason. China strongly opposes the U.S. exporting weapons to Taiwan, considering it interference in its internal affairs.
On the same day, the Chinese Ministry of Foreign Affairs issued Decree No. 8, announcing sanctions that freeze movable and immovable property and other assets within China of Lockheed Martin’s subsidiaries, including the Missile Systems Integration Laboratory, Lockheed Martin Advanced Technology Laboratories, and Lockheed Martin Ventures.
Additionally, sanctions were imposed on Lockheed Martin executives including Chairman and CEO James Taiclet, Chief Operating Officer (COO) Frank St. John, and Chief Financial Officer (CFO) Jesse Malave. These sanctions include freezing movable and immovable property and other assets within China, prohibiting transactions with organizations and individuals in China, and banning visa issuance and entry into China (including Hong Kong and Macau).
The Chinese Ministry of Foreign Affairs stated, "The United States recently announced another arms sale to the Taiwan region, which seriously violates the 'One China' principle and the three China-U.S. joint communiqu?s," adding, "The U.S. has severely interfered in China’s internal affairs and seriously undermined China’s sovereignty and territorial integrity," explaining the reasons for the sanctions.
This is interpreted as a retaliatory measure against the U.S. government's announcement of new arms sales to Taiwan. Earlier, on the 18th (local time), the U.S. Department of State approved a plan to sell new weapons to Taiwan worth $360 million (approximately 496.4 billion KRW), including missiles and suicide drones.
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