Home Business Trade blacklist: Pakistan firms among 36 companies US accuses of supporting Russia

Trade blacklist: Pakistan firms among 36 companies US accuses of supporting Russia

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WASHINGTON, June 29(ABC): US President Joe Biden’s administration added five companies in China to a trade blacklist on Tuesday for allegedly supporting Russia’s military and defense industrial base, flexing its muscle to enforce sanctions against Moscow over its invasion of Ukraine.

The Commerce Department, which oversees the blacklist, said the targeted companies had supplied items to Russian “entities of concern” before the Feb. 24 invasion, adding that they “continue to contract to supply Russian entity listed and sanctioned parties.”

The agency also added another 31 entities to the blacklist from countries that include Russia, UAE, Lithuania, Pakistan, Singapore, the United Kingdom, Uzbekistan and Vietnam, according to the Federal Register entry. Of the 36 total companies added, 25 had China-based operations.

“Today’s action sends a powerful message to entities and individuals across the globe that if they seek to support Russia, the United States will cut them off as well,” Under Secretary of Commerce for Industry and Security Alan Estevez said in a statement.

The Chinese embassy in Washington did not respond to the allegations against the companies, but said Beijing had not provided military assistance to Russia or Ukraine. It said it would take “necessary measures” to protect the rights of its companies, arguing that the sanctions violate international law.

Three of the companies in China accused of aiding the Russian military, Connec Electronic Ltd, Hong Kong-based World Jetta, and Logistics Limited, could not be reached for comment. The other two, King Pai Technology Co, Ltd and Winninc Electronic did not immediately respond to requests for comment.

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  • FD News

    Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.

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