China slams US for ‘long arm jurisdiction’ on bank
China’s foreign ministry on Friday said the US is conducting “long arm jurisdiction” after the US severed the Bank of Dandong in Northeast China’s Liaoning Province.
China, as a permanent member of the UN Security Council, has always been carrying out the UN’s North Korea-related resolutions and international duty thoroughly, accurately, carefully and strictly, Foreign Ministry Spokesperson Hua Chunying said at a news briefing on Friday.
“We are firmly against any country, based on their own laws, conduct ‘long arm jurisdiction’ on other countries,” Hua noted.
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday severed the Bank of Dandong after concluding that the bank was of “primary money laundering concern for serving as a gateway for North Korea to access the US and international financial systems,” according to a statement on its website.
The Bank of Dandong didn’t reply to an interview request from the Global Times on Friday. The People’s Bank of China, China’s central bank, also could not be reached on Friday.
The Financial Times reported on Friday that such events as US ques- tioning of China’s relationship with North Korea will continue to “dog” Sino-US ties.
However, Jin Qiangyi, director of Yanbian University’s Asia Research Center, said on Friday that this is an isolated case and will not affect SinoUS relations.
“Sino-US relations will not be influenced by the US government’s sanctions against certain Chinese banks,” Jin told the Global Times.
But he said that the US’ decision against Bank of Dandong might be a signal that the US is creating an “atmosphere” which would help the US gain an edge in its upcoming talks with China.