The authorities of the People's Republic of China announced sanctions against two major American defense companies.
What is known
Officially about sanctions against two manufacturersannounced the Ministry of Commerce of the People's Republic of China. The department added Lockheed Martin and Raytheon Missiles & Defense to the list of unfriendly companies.
The Chinese authorities explain their decision by defensenational sovereignty and security. The reason for the sanctions was that Lockheed Martin and Raytheon Missiles & Defense is engaged in supplying weapons to Taiwan.
American CEOs are no longerwill be able to work and live in China. Existing permits will be revoked. Additionally, Lockheed Martin and Raytheon Missiles & Defense is prohibited from importing and exporting along with investments into China.
Note that the authorities of the United States have alreadyprohibited local companies from supplying weapons-related products to China. Therefore, it is difficult to say what impact Chinese sanctions will have on the activities of Lockheed Martin and Raytheon Missiles & Defense.