US sanctions five Chinese companies under intellectual property protection law

The US Treasury has imposed sanctions on five Chinese companies under legislation protecting American intellectual property. The Office of Foreign Assets Control published the updated list.

The entries include Qiji Chuangtan Beijing Investment Management, also known as MiraclePlus, affiliated investment and management entities, and Shanghai Zhisuan Technology.

The published entries provide for property blocking and restrictions on financial transactions under US jurisdiction. The blocking provisions explicitly include an exception for imports of goods.

OFAC also issued general licences authorising specified transactions under cyber-related sanctions rules and the winding down of dealings with the listed entities.