Chinese Xiaomi Corp. She said that yesterday a US court formally vacated her business as the «Chinese Communist Military Company (CCMC)». In addition, all restrictions for US citizens to purchase and own its shares were lifted.
It is difficult to overestimate the importance of the decisions of American justice for Xiaomi. An example of what losses a business can suffer due to US sanctions is Huawei, for which the most important regional markets are now closed.
*»The District Court of the District of Columbia has issued a final ruling overruling the U.S. Department of Defense designation of Xiaomi as a CCMC,» the Hong Kong Stock Exchange said in a filing. According to the company, the decision on the case was made on Tuesday.
*»The company confirms that it is an open, transparent, publicly traded, independently managed and managed business,» said Lei Jun, Chairman of the Board of Directors of Xiaomi.
Sanctions against Xiaomi were introduced by the US Department of Defense at the beginning of the year during the administration of President Donald Trump. In March, a US court temporarily allowed cooperation with the company, and in the first half of this month, the US military said that removing the business from the sanctions list would be «appropriate.»