US Lawmakers demand probe into six Chinese state-owned companies

The US lawmaker committee claimed that American institutions have made billions in profits over investments in such companies…reports Asian Lite News

Republican lawmakers who are members of the House of Representatives’ China-focused committee on Friday urged the US to investigate six Chinese state-owned companies for allegedly helping Iran evade US sanctions, Nikkei Asia reported.

The Department of Treasury should provide an analysis on whether the activities of state-owned military, oil and shipping companies and their subsidiaries should be subject to secondary sanctions for assisting Iran’s energy sector and military, the lawmakers said in a letter sent that day, Nikkei Asia reported.

According to the same report, the six questioned companies were China North Industries Group, Aviation Industry Corp. of China, China Ocean Shipping, China National Offshore Oil Corporation (CNOOC), CRRC, and China Petroleum & Chemical (SINOPEC). The committee also stated that sister concerns of CNOOC are involved in projects with US-sanctioned National Iranian Oil. Whereas, SINOPEC has helped develop an oilfield.

“Many of these companies even appear to engage in activities that violate existing U.S. sanctions against Iran. As a result, U.S. retirees are likely indirectly funding activities that run counter to U.S. national security and international stability,” read the letter, signed by Chairman John Moolenaar and 11 Republican members.

The US lawmaker committee claimed that American institutions have made billions in profits over investments in such companies, in return bolstering China’s military capabilities and supporting the human rights abuses orchestrated by the government, the Nikkei Asia report claimed.

Moreover, the concerned committee in the House of Representatives was formed in January 2023 to tackle security threats from China, and combat Beijing’s influence and capabilities. (ANI)

ALSO READ: UAE, China hail ‘deepening’ ties