China's Commerce Ministry said Tuesday it has imposed sanctions on five US subsidiaries of South Korean shipbuilder Hanwha Ocean.
The Chinese ministry said the sanctions were imposed to counter probes that the US has launched against China's maritime, logistics and shipbuilding industries and because Hanwha's US units have allegedly "supported the US government's investigations."
The ministry said the five US Hanwha units affected by the sanctions are: Hanwha Shipping, Hanwha Philly Shipyard, Hanwha Ocean USA International, Hanwha Shipping Holdings and HS USA Holdings.
Under the sanctions, Chinese companies and individuals are blocked from doing business with the sanctioned Hanwha units, the ministry said.
Hanwha Ocean didn't immediately respond to a request for comment by MT Newswires.