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FX.co ★ US court temporarily suspends ban on investment in Xiaomi

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Forex Humor:::2021-03-24T10:53:00

US court temporarily suspends ban on investment in Xiaomi

According to Reuters, the US Federal Court has temporarily blocked the ban on cooperation with Chinese Xiaomi. Earlier, the smartphone maker was blacklisted by Washington due to alleged ties to China’s military. The US Federal Court concluded that the allegations against the company suggesting it was a threat to US national security were baseless. The judges agreed that Xiaomi’s operations did not compromise the country’s national security. The US Department of Defense has not yet given any comments on the issue. Xiaomi’s officials welcomed the court ruling and expressed hopes that the ban would be permanently suspended. In late January, Xiaomi filed a complaint with the Washington court seeking to be removed from the list. According to the restrictions imposed by Trump’s administration, US investors are not allowed to buy the shares of the blacklisted Chinese companies. Xiaomi argued that the decision of the US authorities was unconstitutional. The electronics manufacturer denied any affiliation with the Chinese government and its military forces, as well as with any other organizations related to the Chinese defense industry.


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