China sanctions Lockheed Martin, Raytheon Technologies for Taiwan sales

Washington contended that the balloon was spying and shot it down, while China claims it was a civilian airship collecting weather data that went off course

China imposed fines and sanctions against two US defense companies in a further escalation of tensions between the world’s two biggest economies. 

Lockheed Martin Corporation and a subsidiary of Raytheon Technologies Corp were added to a list of “unreliable entities” due to their participation in arms sales to Taiwan, China’s Ministry of Commerce said Thursday. The companies were fined twice the contract value of their arms sales to Taiwan since September 2020 when the list first came into effect and would be required to pay within 15 days, according to the statement. 

China considers the democratically self-ruled Taiwan as part