U.S. State Department Issues Sanctions Warning To banks Over Hong Kong Crackdown

U.S. State Department Issues Sanctions Warning To banks Over Hong Kong Crackdown

The U.S. State Department on Wednesday formally warned international financial institutions doing business with individuals deemed responsible for the crackdown on democracy in Hong Kong that they could face sanctions.

In a report to Congress seen by Reuters, the State Department named 10 individuals, including Hong Kong’s chief executive Carrie Lam, already sanctioned over China’s crackdown, and noted that U.S. law required a list of any financial institutions that conduct significant financial transactions with them within 60 days.

REUTERS