CHINA WORKING TO “PREVENT” COUNTRIES FROM ATTENDING SUMMIT – ZELENSKYY
Ukrainian President Volodymyr Zelenskyy has accused China of pressuring countries not to attend an upcoming peace summit in Switzerland. "China, unfortunately, is working hard today to prevent countries from coming to the peace summit," Zelenskyy said on the sidelines of the Shangri-La Dialogue in Singapore. He said China was "a tool in Putin's hands" and accused Russia of using Chinese diplomats to do "everything to disrupt the peace summit." In response, a PRC spokesperson said it would be "difficult" for China to attend if Russia did not participate, and called for “equal participation of all parties and fair discussion of all peace plans." (Agence France-Presse, June 2, 2024)
CENTRAL AFRICAN REPUBLIC SUSPENDS CHINESE FIRM FOR TIES TO ARMED GROUPS
The Central African Republic (CAR) has suspended the operations of Daqing SARL, a Chinese gold and diamond mining company, accusing it of collaborating with armed anti-government militias. A decree from the country's Ministry of Mines accused the company of sharing "intelligence with armed groups, illegal exploitation, illegal introduction of foreign subjects into mining areas, non-payment of taxes and lack of activity reports." Daqing SARL operates in Mingala, a region plagued by fighting between the country's army and an anti-government armed group known as the Coalition of Patriots for Change. (Associated Press, June 9, 2024)
[EDITOR'S NOTE: Chinese companies operating in the CAR face security challenges. Last month, four workers were killed at a Chinese-run gold mine during an attack that the government blamed on the Coalition of Patriots for Change. Last year, nine Chinese nationals were killed at a different gold mine in another attack blamed on the group. In 2020, two PRC nationals died in an uprising against a Chinese-operated mine.]
PRISON TIME FOR TRYING TO SELL IRANIAN OIL TO CHINA
Two men convicted of conspiracy to commit money laundering for trying to sell Iranian oil to China in violation of U.S. sanctions have been sentenced to 45 months in prison. From July 2019 to February 2020, Wang Zhenyu, 43, a PRC citizen, and Daniel Ray Lane, 42, of Texas, schemed to evade U.S. economic sanctions against Iran by facilitating the purchase of oil, masking its origins, and then selling it to a refinery in China. Lane, who was president of Stack Royalties, a company that sells oil rights to investors, claims that undercover agents offered him "millions" to take part in the scheme. The two men were charged, along with three co-conspirators, at least two of whom have since pled guilty. (Reuters, June 11, 2024)
EPOCH TIMES CFO ARRESTED FOR $67 MILLION MONEY LAUNDERING SCHEME
Weidong "Bill" Guan, the CFO of the Epoch Times, has been arrested for running a "sprawling transnational scheme" to launder at least $67 million into the Fa Lun Gong-linked media company. He pled not guilty to money laundering and bank fraud charges. Members of Epoch's "Make Money Online" team, which Guan managed, are charged with using cryptocurrency to "knowingly purchase tens of millions of dollars in crime proceeds." Stolen personal information was used to open accounts to launder funds obtained from fraudulent unemployment benefits, which were then loaded onto prepaid debit cards. Money was also laundered through Epoch's bank accounts, Guan's personal bank and various cryptocurrency accounts. The media company's revenues jumped 410%, from $15 million to $62 million, when the alleged money laundering began. The Epoch Times has suspended Guan "until this matter is resolved." (Associated Press, June 4, 2024)
AUSSIE WINE EXPORTS TO CHINA BOOM AFTER BEIJING DROPS TARIFFS
Australian wine makers shipped $57 million worth of wine to China in April, the month after Beijing lifted tariffs, and exports are expected to continue to rise. Australia sold wine worth $800 million to China in 2020, before Beijing blocked imports as part of broader trade restrictions imposed on Australia after Canberra called for an investigation into the origins of COVID-19. "I'm very optimistic that we can get a full recovery of the Australian wine market into China,” said Trade Minister Don Farrell. The exports would be welcomed by an Australian industry dealing with huge oversupply. Almost all trade barriers have been dropped, except for those on lobster imports – but that too may be fixed in the near future. "I'd be very confident that the visit this week [of Premier Li Qiang] will result in a very successful outcome for lobster producers," Farrell said. (Reuters, June 12, 2024)
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