BENGALURU, India (Reuters) – The United States is preparing new sanctions against Chinese surveillance camera maker Hikvision, the Financial Times reported on Wednesday, citing four sources with knowledge of the matter.
Potential sanctions will be administered by the US Department of the Treasury, which publishes the list that prohibits transactions by US companies or citizens with the sanction targets. The Financial Times did not detail which sanctions will be applied.
Brazilian company Multilaser announced in April an agreement to take over the production of Hikvision security equipment in Brazil, in a strategy to diversify into high-growth niches and increase revenues.
The sanctions could have major consequences for the Chinese company, which already faces further restrictions in the US for activities considered to be contrary to Washington’s foreign policy and the country’s national security. Hikvision has been accused of allowing human rights abuses by providing the Chinese government with cameras used in the crackdown on the Uighurs.
Washington has already begun to warn allies as Hikvision has customers in more than 180 countries, the FT reported.
Representatives for the White House and the Treasury Department declined to comment.
Hikvision said in a statement to Reuters that it has complied with applicable laws and regulations in the countries where it operates.