US may restrict Huawei’s access to banks and financing

US lawmakers have introduced a bipartisan bill that could further tighten already heavy sanctions against Huawei. This time, lawmakers want to Block China’s access to the country’s banking system🇧🇷

Presented by Republican Senator Tom Cotton, the text of the law could also target other “untrustworthy” Chinese companies that could use 5G technology to carry out what they consider “economic espionage against the US”.

If the bill passes the House and Senate, it would add Huawei to the Treasury Department’s list of “Specially Designated” entities, something that effectively freezes access to any US bank or affiliates abroad.

Image/reproduction: United States Senate.

Commenting on the subject, the author of the project stressed that it is necessary to suffocate Huawei even more:

We’ve made great strides in recent years at home and abroad in combating Huawei’s evil attempts to take over 5G and steal Americans’ data. We cannot allow Huawei and the Chinese Communist Party to have access to Americans’ personal data and our country’s most sensitive defense systems.

On the other hand, Wang Wenbin, spokesperson for the Ministry of Foreign Affairs of China, protested:

China strongly opposes the US generalization of the concept of national security (and its) abuse of state power to suppress Chinese companies.

So far, Huawei has not commented on the matter.

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