Sanctions against Xiaomi lifted after company wins court against Pentagon's decision

A US court has invalidated the Pentagon's decision to include Xiaomi into the list of 'China's military enterprises,' Report informs, citing Reuters. In January 2021, the US administration added nine Chinese companies, including smartphone producer Xiaomi, to the list of companies banned for US investors over alleged links with the Chinese military. As the sanctions were lifted, the US investors could purchase the company's stocks on legal grounds.

Xiaomi chairman Lei Jun confirmed that the company is an open, transparent, publicly traded, independently operated, and managed corporation. Earlier the US Federal Court temporarily suspended the decision of the country's authorities about the ban on investment in Xiaomi.