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OFAC replaces one FAQ with another…

So, OFAC has replaced FAQ 880 about Xiaomi Corporation’s listing on the Non-SDN Communist Chinese Military Companies (NS-CCMC) List with a new FAQ 896:

896. Do the prohibitions in Executive Order 13959, as amended (E.O. 13959), apply with respect to Xiaomi Corporation?Answer

On January 14, 2021, the Secretary of Defense listed Xiaomi Corporation (“Xiaomi”) as a Communist Chinese military company (“CCMC”), which triggered certain securities-related prohibitions pursuant to E.O. 13959. On May 25, 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) vacating the listing of Xiaomi as a CCMC. Consequently, the prohibitions in E.O. 13959 do not apply with respect to Xiaomi.

Links:

OFAC Notice

FAQ 896

Categories: Frequently Asked Questions (FAQ) Guidance Non-SDN Communist Chinese Military Companies (NS-CCMC) List updates OFAC Updates

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