I just feel strange as the report doesn't clarify how the sanction will be imposed? ...
I took a brief look, and:
"
SENIOR ADMINISTRATION OFFICIAL ONE:
... In this case, the sanctions that are being imposed upon EDD – and I would certainly turn to – I believe it’s Senior Official Number Three to correct or fill in anything that I get wrong here – but we are imposing sanctions on EDD – that is to say, the Chinese entity, Chinese company – a number of these things, although not all of them and there are indeed some carve-outs and waivers. We are denying U.S. export licenses to EDD. We are denying – or, in fact, we are imposing a prohibition upon foreign exchange transactions under U.S. jurisdiction; also imposing a prohibition on transactions with the U.S. financial system. We are blocking all property or interests in property within the U.S. – within U.S. jurisdiction. And we are imposing sanctions on an EDD principal executive officer. That’s the fellow, Mr. Li Shangfu, who we mentioned before. And these sanctions include a prohibition on foreign exchange transactions under U.S. jurisdiction, a prohibition on transactions with the U.S. financial system, and blocking of all property or interests Mr. Li’s – in property within the U.S. jurisdiction, as well as a visa ban.
OFAC has also placed both EDD and Mr. Li on its SDN list, and as a result of that in itself, all property and interests in property within the U.S. jurisdiction are being blocked and U.S. persons are from here forth generally going to be prohibited from transacting with them.
..." etc. inside
Previewing Sanctions Under Section 231 of the Countering America's Adversaries Through Sanctions Act of 2017 (CAATSA)
"EDD" and that manager above are inside
Sanctions Under Section 231 of the Countering America's Adversaries Through Sanctions Act of 2017 (CAATSA)
:
"Second, the Secretary of State, in consultation with the Secretary of the Treasury, has imposed sanctions pursuant to section 231 of CAATSA on the Chinese entity Equipment Development Department (EDD) and its director, Li Shangfu, for engaging in significant transactions with Rosoboronexport, Russia’s main arms export entity, which is on the LSP."