https://sputnikglobe.com/20221214/us-lawmakers-introduce-bill-to-restrict-huaweis-access-to-banks--sen-cotton-1105459965.html
US Lawmakers Introduce Bill to Restrict Huawei's Access to Banks
US Lawmakers Introduce Bill to Restrict Huawei's Access to Banks
Sputnik International
WASHINGTON (Sputnik) – A bipartisan group of US lawmakers has introduced a bill to cut Huawei and other Chinese 5G companies suspected of "economic espionage"... 14.12.2022, Sputnik International
2022-12-14T14:31+0000
2022-12-14T14:31+0000
2022-12-14T14:33+0000
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"This bill would add these entities to the Treasury Department's Specially Designated Nationals (SDN) List, which would effectively freeze them from accessing the U.S. financial system," Sen. Tom Cotton said in the release published on Tuesday. The bill was introduced by Senators Cotton, Chris Van Hollen, Chuck Schumer, and Rick Scott. Congressman Mike Gallagher introduced companion legislation in the US House of Representatives.Huawei, a telecommunications equipment maker the United States views as a national security threat, is still charged in the case, which is pending in US District court. The charges include obstructing justice, conspiracy to steal trade secrets from US technology companies, and bank fraud. Huawei has pleaded not guilty.On November 25, the Biden Administration banned approvals of new telecommunications equipment from Huawei and China's ZTE Corp for the risks they pose to national security.Beijing has long said the incident is an instance of political persecution against a Chinese citizen, and one designed to hobble the country's high-tech companies.
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US Lawmakers Introduce Bill to Restrict Huawei's Access to Banks
14:31 GMT 14.12.2022 (Updated: 14:33 GMT 14.12.2022) WASHINGTON (Sputnik) – A bipartisan group of US lawmakers has introduced a bill to cut Huawei and other Chinese 5G companies suspected of "economic espionage" off from the American financial system, according to a release.
"This bill would add these entities to the Treasury Department's Specially Designated Nationals (SDN) List, which would effectively freeze them from accessing the U.S. financial system," Sen. Tom Cotton said in the release published on Tuesday.
The bill was introduced by Senators Cotton, Chris Van Hollen, Chuck Schumer, and Rick Scott.
Congressman Mike Gallagher introduced companion legislation in the US House of Representatives.
25 November 2022, 20:34 GMT
Huawei, a telecommunications equipment maker the United States views as a national security threat, is still charged in the case, which is pending in US District court. The charges include obstructing justice,
conspiracy to steal trade secrets from US technology companies, and bank fraud. Huawei has pleaded not guilty.
On November 25, the Biden Administration
banned approvals of new telecommunications equipment from Huawei and China's ZTE Corp for the risks they pose to national security.
Beijing has long said the incident is an instance of political persecution against a Chinese citizen, and one designed to hobble the country's high-tech companies.
