The State Department, the Ministries of Commerce, Homeland Security, and Finance have prepared recommendations for American businesses on the risks of doing business in Hong Kong.
The United States has announced unilateral sanctions against seven Chinese officials over the situation in Hong Kong. This is stated in a message distributed on Friday by the US Ministry of Finance.
The US Foreign Ministry also introduces visa restrictions against these officials. According to a widely circulated statement by US Secretary of State Antony Blinken, the office is allegedly the main platform of the PRC “to project influence on Hong Kong and has repeatedly undermined the high degree of autonomy” of this special administrative region. “We will continue to support the rights and freedoms guaranteed to Hong Kong residents by the Sino-British joint declaration,” Blinken stressed.
The State Department, the Ministries of Commerce, Homeland Security, and Finance have prepared recommendations for American businesses on the risks of doing business in Hong Kong.
“Companies, individuals and others, including academic institutions, research service providers and investors working in Hong Kong or having contacts with sanctioned individuals and organizations, should be aware of changes in the laws and regulations of Hong Kong <…> They should be aware of the potential reputational, financial and sometimes legal risks of conducting operations in Hong Kong,” the text says. In addition, the recommendations say “about the possible consequences of certain options for cooperation with sanctioned individuals and organizations.” “US citizens and businesses are prohibited from conducting certain operations with persons included in the sanctions list without a general or special license from the US Treasury Department’s Office of Foreign Assets Control or other exceptions,” the US authorities said.
