U.S. Sanctions CCP’s NASDAQ-Listed Company Over Illegal Fishing, Rights Violations

According to a media reports on December 9th, the U.S. Department of The Treasury has imposed new sanctions on dozens of individuals and entities involved in human rights violations, including Chinese nationals, the Russian Central Election Commission and its members, and Iranian officials.

The U.S. Department of The Treasury said it imposed sanctions on Chinese nationals Li Zhenyu and Zhuo Xinrong as well as ten entities associated with the two, including the Nasdaq-listed Pingtan Marine Enterprise Ltd, or, PME, of which has involved in illegal fishing and has been linked to human rights abuses. The U.S. has imposed sanctions on the designation of PME on an entity listed on the NASDAQ stock exchange for the first time.

It is reported that President Biden signed a national security memorandum in June this year to combat illegal fishing as part of an effort to help countries combat illegal fishing fleets, including those of the Communist China. Countries around the world are concerned with illegal fishing by China, arguing that its vessels often violate the 200-nautical-mile exclusive economic zone, causing environmental damage and economic loss.

Some human rights advocates have even pointed out that illegal fishing may also be linked to other illegal activities, such as human trafficking and forced labor, due to poor law enforcement in international jurisdictions. In a statement, the Treasury’s Under Secretary for Terror-ism and Financial Intelligence, Brian Nelson, said that these initiatives demonstrate the seriousness with which the United States views the issue of illegal fishing and its commitment to holding accountable those who commit serious human rights violations.