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Thursday, December 3, 2020, 15:30 pm (GMT + 7)
After much speculation, the Trump administration has just decided to punish the Chinese conglomerate that owns HD 981. According to experts, the move is intended to bolster its diplomatic legacy of restraining China. Triumph.
China’s HD 981 drilling rig illegally entered Vietnam’s exclusive economic zone (Photo: Asia Times)
The Trump administration has blacklisted the China National Petroleum Corporation (CNOOC), following the Group’s “unsafe” actions in the South China Sea, Asia Times reported.
CNOOC is one of the “energy giants” not only in China but also in the world.
Being blacklisted in the US will prevent CNOOC from developing in the US market as well as many other foreign markets.
US investors, who currently own about 16.5% of CNOOC shares, were forced to divest themselves of the group following Trump’s sanction decision.
CNOOC’s share price fell 14% after the Washington sanctions.
According to experts, CNOOC has been a target of the Trump administration for a long time. This group is involved in a number of controversial oil and gas exploration activities in the South China Sea.
CNOOC’s activities are believed to be part of China’s illegal claim to sovereignty in the South China Sea, the world’s most important sea route.
“CNOOC will be restricted from accessing the financial system using the USD and working with US companies or individuals. This can cripple CNOOC’s international operations, ”said Neil Beveridge, senior analyst at research firm Sanford C. Bernstein.
According to the Asia Times, the Trump administration will continue to punish other major Chinese energy companies.
“The United States believes that CNOOC’s exploration and drilling activities in the South China Sea are related to the Chinese military,” said Lin Boqiang, a Chinese military expert.
“Investors are concerned that more Chinese companies will be blacklisted before the transfer of power in the United States is complete,” said Stanley Chan, research director at Emperor Securities. Values, let’s say.
In May 2014, CNOOC’s HD 981 drilling rig blatantly violated Vietnam’s exclusive economic zone. China’s act to smuggle the HD 981 oil rig into the South China Sea has received great criticism from the international community.
Source: http: //danviet.vn/my-trung-phat-chu-so-huu-gian-khoan-hd-981-cua-trung-quoc-50202031215282180.ht …
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