Company announcements and executive resignation reports

China Sanctions 13 U.S. Defense Firms, Six Executives Over $385M Taiwan Arms Sale

Dec 5, 2024, 08:48 AM

China's Foreign Ministry announced on Thursday that it has decided to impose sanctions on 13 U.S. defense firms and six executives, effective from December 5. The move comes in retaliation for the United States' recent announcement of arms sales to Taiwan, including a $385 million deal to supply F-16 fighter jet parts and radar equipment, which China considers a violation of the One China principle and a serious interference in its internal affairs. The sanctions target companies such as Teledyne, BRINC Drones, and Kratos. Additionally, China has announced a ban on exports of gallium, germanium, antimony, and other high-tech materials with potential military applications to these entities. The Chinese government emphasized that the arms sales severely undermine China's sovereignty and territorial integrity, and it vowed to take firm and strong measures in response.