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China's Wuhan Tianyu says inclusion on US sanctions list may impact forex transactions
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China's Wuhan Tianyu says inclusion on US sanctions list may impact forex transactions
Jun 16, 2024 3:00 AM

BEIJING, June 16 (Reuters) - China's Wuhan Tianyu

Information Industry said on Sunday the U.S.

including it on a sanctions list was a "unilateral" act that

could affect the data security company's foreign exchange

settlements.

The U.S. Treasury Department on Wednesday widened sanctions

aimed at curbing Russia's war production in response to Moscow's

invasion of Ukraine, targeting third-party entities, including

dozens of suppliers of electronics in China.

The reason and details of its inclusion on the U.S.

"Specially Designated Nationals" list have not been verified,

and the company will actively communicate with all parties as

soon as possible in the hope of obtaining a "fair and just"

solution, Tianyu said in a filing to the Shenzhen Stock

Exchange.

"The trade between (Tianyu) and its overseas customers are

normal business transactions, and the company has strictly

complied with the relevant laws, regulations and international

business practices," it said.

Tianyu has not set up any subsidiaries or branches in the

U.S., nor does it have any assets or conduct any businesses

there, the company said, adding it will take "effective"

measures to safeguard the interest of relevant parties.

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