Lockheed Martin, Raytheon sanctioned by China, added to ‘Unreliable Entity List’

China’s Ministry of Commerce said in a statement, according to a translation of a Chinese-language notice posted to the agency’s website: "In order to safeguard national sovereignty, security and development interests, in accordance with the ‘Foreign Trade Law of the People’s Republic of China,’ ‘National Security Law of the People’s Republic of China’ and other relevant laws, the working mechanism of the unreliable entity list is based on Article 2 and Article 2 of the ‘Regulations on the Unreliable Entity List.’ Article 8 and Article 10 and other relevant provisions, decided to include Lockheed Martin Corporation (LMT) and Raytheon Missiles & Defense (RTX) involved in arms sales to Taiwan into the list of unreliable entities." Based on the list inclusion, the enterprises are prohibited from engaging in import and export activities related to China; from making new investments in China; and fines will be imposed, the notice stated. Reference Link