US President Joe Biden delays Trump’s ban on investments in companies with similar names to blacklisted Chinese firms

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The Biden administration delayed a ban imposed by Donald Trump on American investors, pension funds and financial firms investing in companies that have similar names to a group of blacklisted Chinese firms with purported ties to China’s military.On Thursday, the Office of Foreign Assets Control (OFAC), an arm of the US Treasury Department, issued a so-called general licence that extended the deadline for US persons to stop engaging in securities transactions in companies “whose name closely…

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