US Lawmakers Introduce Bipartisan Bill to Sanction Chinese Firms Aiding Russia

US lawmakers on Wednesday introduced a new bill aimed at imposing sanctions on any Chinese military firms that provide material support to Russia. 

The “No Limits Act,” introduced by Republican Representative Mike Gallagher (WI) and sponsored by Representatives Jared Golden (D-ME), John Moolenaar (R-MI), and Jimmy Panetta (D-CA), would give Chinese military firms identified by the US government 180 days to withdraw from the Russian market or face full blocking sanctions.

The bill comes amid growing concern in Washington over the volume of Chinese military-related goods flowing into Russia, which the State Department says is helping prop up Moscow’s economy and arming Russian forces in Ukraine.

“Any company aiding and abetting the horrors in Ukraine – as the Chinese defense industrial complex has done — deserves to experience the full force of American sanctions,” said Gallagher, the outgoing chairman of the House Select Committee on the Chinese Communist Party.

The legislation would also grant the US president broader authority to sanction Chinese firms involved in military modernization efforts, going beyond the current focus on human rights violations. It would also direct the Department of Defense to identify export-controlled technologies most at risk of diversion through the PRC and impose a new, stronger, country-wide control on the technology. It would mandate the Commerce Department to deny an export license.

Incoming committee chairman Moolenaar said the bill would “increase sanctions on military firms in China that partner with Russia” and make it more difficult for the two authoritarian powers to work together against American interests.

Golden emphasized that the bill is designed to ensure consequences for China enabling Russia’s “dangerous behavior” in Ukraine.

The bill is one of the many introduced related to or targeting China in recent years. While few make it to the final phase and become law, skepticism toward China and its actions on the global stage is one of the few issues that the two parties appear to agree on.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $100 Silver Right Now Would Be a Problem | Keith Neumeyer – First Majestic

Why Industrial Demand Is Changing the Silver Market | David Morgan

Gold and Silver Delivery Is Exposing the Paper Market | Andy Schectman

Recommended

Steadright To Acquire 75% Interest In Moroccan Copper-Lead-Silver Project

Nations Royalty Names Derrick Pattenden As President And CEO

Related News

Neon Gas Shortage Due To Conflict Could Hit Semiconductor Industry

The repercussions from Russia’s invasion of Ukraine continue to broaden and deepen. The prices of...

Sunday, March 13, 2022, 01:09:00 PM

ByteDance Plans To Use TikTok To Surveil American Citizens — Forbes

ByteDance’s Internal Audit and Risk Control planned to utilize the TikTok app to monitor the...

Friday, October 21, 2022, 01:41:00 PM

Law Firm Dentons Exits From China As Gov’t Intensifies Control

Dentons, the global law firm, has made the decision to sever its ties with its...

Thursday, August 10, 2023, 11:43:00 AM

China Reacts to West’s Sanctions on Russia

The Chinese government is opposing sanctions introduced by the West and the EU against Russia,...

Monday, February 28, 2022, 02:52:00 PM

Crude Oil Prices on the Decline After China Releases Fuel Reserves to Boost Domestic Supply

Crude oil prices briefly receded from their multi-year highs on Monday, after China’s government released...

Tuesday, November 2, 2021, 04:51:00 PM