The companies affected are mostly related to drone manufacturing and include BRINC Drones, Shield AI, and Kratos Unmanned Aerial Systems. The Foreign Ministry in Beijing said in an announcement Thursday that the assets of all 13 companies are frozen and no China-based entities can transact or work with them.
The countermeasures were warranted by the US arms sales to Taiwan that "seriously interfere with China's domestic affairs, and seriously damage China's sovereignty and territorial integrity," the ministry said. Six senior US executives will additionally be subject to sanctions, according to the statement.
This story is from the December 06, 2024 edition of Financial Express Mumbai.
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This story is from the December 06, 2024 edition of Financial Express Mumbai.
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