News U.S. Will Add AMD's China Joint Venture to Entity List, Cut Access to U.S. Technology

Is anyone able to explain what is actually entailed by being put on this "Entity List", and/or what the ramifications will be for AMD's joint venture in particular? Maybe I'm just tired, but after a bit of googling I can't seem to understand what this actually means.

It seems to relate (at least in part) to limitations of license transfers to entities on the List, but given that AMD has already stated that their JV license agreement was limited to Zen 1 to begin with, does that mean there isn't really impact to the deal that is in place?
 
Market share and Money over everything. The smart money in VC says China is a better bet than California. At least the guys running FAANG will save us!