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US seeks to boost scrutiny on property deals near military facilities

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  • US seeks to boost scrutiny on property deals near military facilities
  • July 8, 2024
  • Article Body Text Washington — <p>The United States plans to broaden oversight of foreigners' real estate transactions on properties close to military installations, the Treasury Department said Monday, as concerns involving Chinese land purchases grow. </p> <p>&quot;President [Joe] Biden and I remain committed to using our strong investment screening tool to defend America's national security, including actions that protect military installations from external threats,&quot; Treasury Secretary Janet Yellen said in a statement. </p> <p>Under a proposed rule, more than 50 facilities will be added to a list of sites where surrounding property transactions may be reviewed by the Committee on Foreign Investment in the United States (CFIUS) — taking the total figure to 227. </p> <p>CFIUS's jurisdiction covers land purchases as well. </p> <p>The concern is that a foreigner's purchase or lease of certain properties could allow them to collect intelligence or &quot;expose national security activities&quot; to foreign surveillance risks, the Treasury noted. </p> <p>A senior Treasury official said CFIUS's jurisdiction was &quot;country-agnostic&quot; and did not specify if the latest rule was aimed at quelling concerns directed at specific countries like China or Russia. </p> <p>In May, U.S. authorities announced that a Chinese-owned crypto firm was barred from using land near a strategic U.S. nuclear missile base, over national security concerns. </p> <p>MineOne Partners Limited was ordered to divest from land it bought in 2022, which sat less than a mile from Wyoming's Francis E. Warren Air Force Base — home to Minuteman III intercontinental ballistic missiles. </p> <p>CFIUS had also raised concerns about the installation of &quot;specialized&quot; crypto mining equipment on the land which is &quot;potentially capable of facilitating surveillance and espionage activities.&quot; </p>
  • Content Type Text
  • Language English
  • NewsML Media Topics Arts, Culture, Entertainment and Media
  • Subtitles / Dubbing Available No
  • Network VOA
  • Embargo Date July 8, 2024 14:05 EDT
  • Byline Agence France-Presse
  • Brand / Language Service Voice of America - English
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