ANNOUNCEMENT 12 Mar 2021

On 12 March 2021, the U.S. District Court revoked the provisions of E.O. 13959 for Xiaomi.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

U.S. Department of the Treasury, Frequently Asked Question, Chinese Military Companies Sanctions. Available at: https://home.treasury.gov/policy-issues/financial-sanctions/faqs/880

Inception date: 12 Mar 2021 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 12 March 2021, the U.S. District Court for the District of Columbia issued an order in Xiaomi Corporation v. Department of Defense (Case No. 1:21-cv-00280-RC) preliminarily enjoining the implementation and enforcement of the E.O. 13959 prohibitions against Xiaomi. 

Previously the U.S. Administration issued an executive order banning Americans from investing in securities of Chinese military-linked companies. Currently, the U.S. Administration identified 44 Communist Chinese Military Companies. One of these companies was Xiaomi Corporation. Following Xiaomi filing a lawsuit, the U.S. District Court for the District of Columbia revoked the provisions of E.O. 13959 for Xiaomi. The prohibitions in E.O. 13959 do not apply with respect to Xiaomi pending further order of the Court.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A