Beijing The US government plans to impose its sanctions on a large Chinese company. Accordingly, the US Treasury Department could add Hikvision, the world’s largest maker of surveillance equipment and face recognition software, to its list of “specially designated nationals and barred persons” as the first Chinese technical team. This was reported by several media outlets with government sources. It criminalizes any collaboration with the company.
The scale of the sanctions surpasses the most important case of Chinese IT supplier Huawei to date. At the behest of the US administration, it has been denied access to US technologies, especially high-tech semiconductors, since 2019. As a result, Huawei was forced to split with the majority of the smartphone segment, which has remained strong in terms of sales and profits to date. The company has been plagued by the effects of US sanctions About still surviving according to their own information.
In the case of Hikvision, the final decision has not yet been made, Bloomberg News Agency reported. However, the Financial Times writes that the US government has begun to inform its allies of its intentions, as any sanctions could affect more than 180 countries where the company’s cameras are used. Shares of the Chinese group fell more than ten percent on Wednesday.
Washington has accused the Hangzhou-based company of providing surveillance cameras to Chinese leaders to facilitate the repression of Uyghur Muslim minorities in northwestern Xinjiang, contributing to human rights abuses.
Important jobs of the day
Find the best jobs now
Notified by email.
The United States has accused China of committing “genocide” in Xinjiang. China has always refused to oppress the Uyghur Muslim minority. U.S. security officials also fear that China could use Higgins’ cameras for espionage operations around the world.
Higuision has been banned from acquiring US technology since 2020
The company’s cameras and surveillance software are used by government agencies and organizations around the world, for example to combat crime or “smart city” applications. As the devices become more powerful and even cheaper, the manufacturer’s sales have recently grown internationally. The company is considered a pioneer in the field of face recognition through artificial intelligence.
>>> Read here: Huawei Ranks first again in European patent figures
Hikvision’s report on the first issue of the “Financial Times” indicates that the company has not yet made a decision on possible sanctions. One believes in “fair and impartial” treatment. Restrictions must be “based on credible evidence and due process.”
Higvision has been on the U.S. Commerce Department’s list of companies since 2020. This means suppliers cannot sell American technology to the company. Last year, Biden management also put up the company List of “Chinese military-industrial complex” companies.
Since then, US investors have not been allowed to invest in the company. The inclusion of exclusively designated nationals and barred persons in the list is another blow to the company because its customers run the risk of violating U.S. sanctions.
With agency supplies
Further: U.S. sanctions bring down Huawei sales – and record profits
“Friend of animals everywhere. Web guru. Organizer. Food geek. Amateur tv fanatic. Coffee trailblazer. Alcohol junkie.”
This threatens Binance and Coinbase in the US
BBC and British Airways salary details hacked
Class action lawsuit in UK – Royal on witness stand: Harry hits out at press – News