Still No Evidence of Foreign Banks Transacting With Sanctioned HK Officials, Treasury Says
The Treasury Department hasn’t found evidence of any foreign banks facilitating “significant transactions” for the Hong Kong officials sanctioned by the U.S. under the Hong Kong Autonomy Act, the agency said in a report released to Congress May 18. Treasury…
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said it will “continue to actively monitor” for those transactions and said it has held “constructive conversations” with other nations about sanctions risks associated with China and Hong Kong. The agency also said it told foreign banks that it is willing to “engage further” with them about their potential sanctions exposure. Treasury released similar findings and statements in its report last year (see 2012140011).