The court sided with Xiaomi
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The Pentagon will exclude Xiaomi from the “black list” of companies associated with the PRC defense sector. The company came under sanctions in January, losing $ 10 billion in market value.
The United States will exclude tech giant Xiaomi from the state “blacklist” of enterprises working for the Chinese military industry. The American government admitted its mistake and declared its readiness to settle this issue with Xiaomi Group and not subject the company to sanctions, writes Reuters with reference to court materials.
In January, President Donald Trump’s administration blacklisted several Chinese companies, including smartphone maker Xiaomi. The businesses were accused of working for the Chinese military and strong ties with the country’s communist government.
Subsequently, Xiaomi appealed this decision in court, which sided with the tech company.
The January announcement of Xiaomi’s blacklisting by the United States lowered its market value by $ 10 billion. And after the announcement of the court ruling in defense of the company, its shares rose by six percent in Hong Kong.
Meanwhile, the United States is threatening its allies sanctions in case of purchase of Russian weapons… “All US allies should avoid major purchases of Russian weapons, including new shipments of the S-400,” said US Secretary of State Anthony Blinken.
It was also reported that the United States for another year extended anti-Syrian sanctions, which provide for the blocking of assets under US jurisdiction of certain individuals and legal entities, as well as a ban on the export of certain categories of American goods and services to Syria.
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