The US removes Xiaomi from its blacklist and officially lifts all restrictions
Last January, the US Department of Defense blacklisted Xiaomi that prevented any US company or investor from investing in the company. Xiaomi was considered CCMC (The Chinese Communist Military Corporation), not surprisingly, appealed the decision.
Months later, an American judge agreed with the company and said that the US had not presented convincing evidence of the relationship between Xiaomi and the Chinese military, which ended in blocking the blockade. Soon after, the court ruled that Xiaomi’s veto was “arbitrary and volatile” and a compromise agreement was signed in order to Removing Xiaomi from the blacklistThe moment has finally come.
Xiaomi has been removed from the blacklist
A) Yes It was confirmed by the company In a statement issued to the media (It can be accessed from the company’s official blog). As detailed in it:
Xiaomi (hereinafter referred to as “the company”) is pleased to announce that yesterday, May 25, 2021 at 4:09 PM (Eastern Standard Time), the US District Court of Columbia issued an order terminating the designation of the company by the US Department of Defense as “Chinese Communist Military Corporation” (CCMC). With this rating abolished, the court formally proceeded to lift all restrictions on US citizens to purchase or dispose of the company’s securities.
for this reason, All restrictions are lifted That prevented companies and users from investing in the company, which went public on July 6, 2018. From the company, they ensured that it was “an open, transparent, publicly traded and independently managed company” and would continue to “provide confidence in consumer technology products and services to users.”
It should be noted that the blacklist introduced by Xiaomi is not the same as the Huawei blacklist. The list that Xiaomi was on Run by the Ministry of DefenseWhile Huawei is managed by the Ministry of Commerce.
Specifically for that Xiaomi did not suffer from the same problems as Huawei (Losing access to Google Mobile Services, among other things), although after the Department of Defense announcement, they faced a significant drop in the value of their shares.
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