US sanctions on Chinese contractor won’t affect Guyana projects
GEORGETOWN, Guyana (CMC) – Vice President Bharrat Jagdeo has assured that United States sanctions imposed on China Railway Construction Corporation (CRCC) Limited will have no bearing on Guyana’s national infrastructure projects.
“No, Guyana has nothing to worry about,” Jagdeo told Demerara Waves Online News on Sunday when asked whether the sanctions would impact the country.
CRCC, which has been contracted by the Guyanese government to construct the new US$260 million Demerara Harbour Bridge, is among dozens of Chinese firms sanctioned under US executive orders issued by former President Joe Biden and his successor Donald Trump.
According to the US Treasury Department’s Office of Foreign Assets Control (OFAC), the sanctions prohibit US citizens, permanent residents, and companies from investing in publicly traded securities or related financial instruments of firms deemed to be linked to the Chinese military.
Jagdeo stressed that the sanctions placed on CRCC are categorically different from those imposed on local businessmen Azruddin Mohamed and his father, Nazar “Shell” Mohamed, who are accused of evading US$50 million in taxes owed to the Guyanese government on more than 10,000 kilogrammes of gold.
“It was very, very different than being sanctioned for corruption, bribery, gold smuggling and money laundering,” the vice president stated.
The OFAC sanctions on the Mohameds, which have been in effect for over a year, bar US entities from conducting any form of business with them, due to concerns their transactions could compromise the integrity of the US financial system.
Also listed among the sanctioned Chinese companies is tech giant Huawei, whose technology forms part of Guyana’s national CCTV surveillance network and is utilised by several telecoms operators. The United States has long claimed Huawei’s equipment pose a security threat due to alleged ties to military surveillance.
Despite these international developments, Jagdeo reiterated that the operations and partnerships involving CRCC in Guyana remain unaffected, and there is no cause for concern regarding the continuation of key national projects.
