Beijing passed a new law designed to counter U.S. and EU sanctions on Chinese officials and major Chinese companies.
Those involved in designing or implementing the sanctions could find themselves or their family members denied visas to China. Their property in China may be seized, and any commercial transaction they attempt with a Chinese institution can be blocked.
Beijing passed the law on Thursday to counter the sanctions imposed by the United States and the European Union over the last three years. The law was passed in response to the U.N. sanctions imposed against Chinese officials, companies, and officials in the EU and China.
It’s unclear whether the law will apply to organizations with a foot in both China and the EU.