[anglian]

One of China’s biggest conglomerates, China North Industries Corp. (Norinco), was hit with an unprecedented two-year ban on exports to the US That will affect at least $100 million in goods annually — and possibly close to half a billion dollars if US Customs can identify all of Norincoo’s subsidiaries.

[anglian]

The sanctions followed two stern messages the State Department sent to Beijing last year, warning Norinco — China’s premier arms manufacturer — to stop selling rocket fuel and missile components to the Shahid Hemmat Industrial Group, the Iranian government agency in charge of developing and producing ballistic missiles. But, after years of toothless sanctions, the Chinese Foreign Ministry apparently believed they had little to fear and ignored the warnings.