Biden admin blacklists same Chinese company Hunter Biden partnered with in failed railway deal.
The Biden administration on Tuesday blacklisted the same Chinese shipping company over its ties to the Chinese military that Hunter Biden was set to partner with in a failed railway deal in Southern Europe.
The Department of Defense added the China Ocean Shipping Corporation (COSCO), the largest shipping company in China, to the list identifying “Chinese military companies” in the United States along with other Chinese shipbuilders. Though listed companies do not face penalties, U.S. companies are discouraged from pursuing business relationships with them.
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Yet, Hunter Biden, the president’s son, and his business partners in 2015 courted COSCO for funding in an acquisition deal. The project was a proposed acquisition of the Greek national railway TrainOSE which was set to be privatized. This was just one of many deals the younger Biden organized with Chinese partners while his father was Barack Obama’s vice president.
Hunter Biden’s group, which included several Greek and Greek-American partners, including Biden family friend Michael Karloutsos, sought to entice the Chinese shipping giant to, not only invest in the railway acquisition, but to cover all the costs. The partners believed, emails obtained from the Hunter Biden laptop show, that COSCO would be unable to turn down the financial benefits of the railway.
COSCO already owned the busy Greek port of Piraeus. The “new route of Chinese products via Piraeus port is 8 days faster than any other route to central Europe,” one Greek partner reportedly wrote to Hunter Biden and his associates in an email, according to Schweizer, who independently obtained the contents of the Hunter Biden laptop.
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COSCO was also hailed as a “Belt and Road Initiative success story” by Chinese state media for advancing Chinese economic interests in the European region. The Belt and Road Initiative (BRI) is a Chinese infrastructure investment program designed to expand China’s access to the world economy and political influence in the regions it invests in.
https://justthenews.com/accountability/political-ethics/biden-admin-blacklists-same-chinese-company-hunter-biden-partnered