Washington, DC [US], June 12 (ANI): In a significant escalation of scrutiny on China’s global partnerships, Chairman John Moolenaar (R-MI) and all 11 Republican members of the House Select Committee on the Chinese Communist Party (CCP) have formally urged U.S. Treasury Secretary Janet Yellen to investigate six Chinese companies allegedly aiding Iran’s military and energy sectors, potentially in violation of U.S. sanctions.
According to a release by the Select Committee on the CCP, the lawmakers have requested the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) to launch a detailed probe into these Chinese entities. The request highlights concerns that these corporations are helping Iran circumvent existing U.S. sanctions, posing direct threats to U.S. national security and geopolitical stability.
The Committee’s April report revealed that as of 2023, $6.5 billion in U.S. investment funds had been directed into Chinese enterprises identified as national security threats. A January report from the Prague Security Studies Institute further linked many of these firms to strategic collaborations with Iran’s military and energy industries, involving assets worth at least $6 billion.
“Many of these companies even appear to engage in activities that violate existing U.S. sanctions against Iran. As a result, U.S. retirees are likely indirectly funding activities that run counter to U.S. national security and international stability,” the lawmakers wrote.
They added that the U.S. must urgently counter what they described as a “new authoritarian axis” led by China and Iran, warning that the six firms may be supporting proxy forces such as the Houthis, Hamas, Hezbollah, and Palestinian Islamic Jihad — all of which are designated terrorist entities by the U.S. Treasury.
The six companies named for investigation include:
- China North Industries Group Co., Ltd. (Norinco)
- Aviation Industry Corporation of China (AVIC)
- China Ocean Shipping Co., Ltd. (COSCO)
- China National Offshore Oil Corporation (CNOOC)
- CRRC Corporation Limited (CRRC)
- China Petroleum & Chemical Corporation (Sinopec)
The lawmakers urged Treasury officials to determine whether the business activities of these companies violate current sanctions or merit new penalties under U.S. law.
This appeal comes amid intensifying tensions between Washington and Beijing, particularly regarding China’s role in supporting regimes hostile to Western interests, including Iran, Russia, and North Korea. The requested probe, if undertaken, could pave the way for expanded sanctions and regulatory actions affecting some of China’s largest state-run enterprises. (ANI)
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