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The US suspended sanctions against Xiaomi




A US federal court has temporarily suspended sanctions against Xiaomi. The ban limited investment and cooperation with a Chinese company.





Reported by Reuters.

The smartphone maker and eight other companies were blacklisted in January. The reason for this decision was tied with the armed forces of the PRC.

The sanctions included a ban on any financial transactions. Also, all American companies had to sell their shares in Xiaomi.

The Chinese appealed to the Washington court with a statement about the unsubstantiated and unfounded inclusion of Xiaomi in the sanctions list and the unconstitutional behavior of the United States.

On March 12, District Judge Rudolph Contreras agreed with the company's representatives and concluded that the Pentagon's allegations of the company's threat to the country's national interests were unsubstantiated.

The US suspended sanctions against Xiaomi

We will remind, earlier, the United States blacklisted four more Chinese companies. It included China Construction Technology Co Ltd., China International Engineering Consulting Corp., China National Offshore Oil Corp., and Semiconductor Manufacturing International Corp. (SMIC).



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TAGS: XIAOMI, USA, SANCTIONS

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