WASHINGTON (Pakistan Point News / Sputnik - 19th May, 2021) The Biden administration has extended the window allowing citizens to trade securities in companies that the US believes to be linked to the Chinese military, the Treasury Department said on Tuesday.
All public trading of securities in companies linked to the Chinese military "are authorized through 9:30 a.m. eastern daylight time [13:30 GMT], June 11, 2021," the notice from the Treasury Department's Office of Foreign Assets Control stated.
Executive Order 13959, on which this action is based, was originally signed back in November under the Trump administration. The initial order only authorized the trading up until May 27 of this year.
The goal of the order is to address the threat from securities investments that finance Chinese military companies. The companies affected by the order include those in various military-adjacent tech sectors such as aerospace, shipbuilding, and communications.
