US sanctions MiraclePlus and Chinese technology firm under intellectual property law

WASHINGTON, Oct. 19, 2026 — The Treasury Department’s Office of Foreign Assets Control added the entities to its Non-SDN Menu-Based Sanctions List under the Protecting American Intellectual Property Act of 2022. Those targeted were Qiji Chuangtan Beijing Investment Management Co. Ltd., also known as MiraclePlus; Beijing Qiji Chuangtan Phase I Venture Capital Center Limited Partnership, also known as Miracle Plus RMB Fund I; its Phase II counterpart, known as Miracle Plus RMB Fund II; Beijing Qiji Chuangtan Zhiyuan Enterprise Management Center Limited Partnership; and Shanghai Zhיסuan Technology Co. Ltd.

Despite appearing on a list separate from OFAC’s Specially Designated Nationals List, all five entities face property-blocking measures. Their entries prohibit transactions with them except for the importation of goods, alongside restrictions on foreign exchange and banking transactions subject to U.S. jurisdiction. U.S. financial institutions are prohibited from providing loans or credit exceeding $10 million in any 12-month period, subject to a statutory exception, while U.S. persons are barred from investing in or purchasing significant amounts of their equity or debt.

OFAC issued General License 2 permitting transactions ordinarily necessary to wind down dealings with MiraclePlus and the three listed partnerships through 12:01 a.m. Eastern Standard Time on Jan. 19, 2027. The authorization also covers entities owned 50% or more, directly or indirectly and individually or collectively, by those four entities. Payments to persons subject to blocking under the act must go into blocked accounts in the United States. Shanghai Zhisuan Technology is not included in that wind-down authorization.

A separate authorization, General License 1, permits transactions prohibited under the intellectual property law to the extent they are authorized or exempt under the Cyber-Related Sanctions Regulations, including through general or specific licenses. Both licenses preserve other applicable sanctions restrictions unless separately authorized.