China’s Foreign Ministry announces sanctions on UK entities and individuals

Dhwani Mehta FXStreet

Amid escalating row between China and the Western world over the Xinjiang human right abuses, Beijing retaliated by announcing sanctions on the UK businesses, lawmakers and lawyers on Friday, per The Guardian.

Key takeaways

“China sanctioned four entities and nine individuals, including the former Conservative party leader Iain Duncan Smith and the Conservative party’s own Human Rights Commission.”

“Britain imposed sanctions for human rights abuses in the western Chinese region.”

“Retaliation from Beijing was expected after the British ambassador to China, Caroline Wilson, was summoned this week by the Chinese foreign ministry to hear “solemn representations” about the UK sanctions imposed for the mass detention of Muslim minorities.”

Read: GBP/USD ignores China sanctions, eyes 1.3800 ahead of UK Retail Sales

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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