House Committee Asks Biden Admin to Investigate Chinese Firms for Allegedly Helping Iran

Published on June 3, 2024

The chairman and GOP members of a House committee have asked the Biden administration to investigate six state-owned Chinese companies for their alleged ties to sanctioned Iranian industries. In a letter dated May 31 to Treasury Secretary Janet Yellen, Rep. John Moolenaar (R-Minn.), chairman of the House Select Committee on the Chinese Communist Party (CCP), and its GOP members raised concerns over six Chinese firms that allegedly support Iran’s military and energy sectors. The lawmakers cited reports that U.S. investment firms have invested billions of dollars in these Chinese companies. In its April report, the committee found that U.S. investment firms, notably MSCI and BlackRock, have facilitated investments of over $6.5 billion into 63 Chinese companies. These companies have been flagged or blacklisted by the United States government for enhancing China’s military capabilities or for their involvement in human rights abuses....

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