China’s Wuhan Tianyu says inclusion on US sanctions list may impact forex transactions By Reuters

BEIJING (Reuters) – Chinese information industry firm Wuhan Tianyu said on Sunday that the United States' inclusion of it on the sanctions list was a “unilateral” act that could affect the data security company's foreign exchange settlements.

The US Treasury Department on Wednesday expanded sanctions aimed at curbing Russian military production in response to Moscow's invasion of Ukraine, targeting foreign entities, including dozens of electronics suppliers in China.

Tianyu said the reason and details of its inclusion on the US “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. Submit to Shenzhen Stock Exchange.

“The trade between Tianyu and its overseas customers is normal business transactions, and the company has strictly adhered to relevant international laws, regulations and trade practices,” it said.

Tianyu has not established any subsidiaries or branches in the United States, does not have any assets or conduct any business there, the company said, adding that it will take “effective” measures to protect the interests of relevant parties.