Read about our approach to external linking. The Trump administration also announced late last month that it would halt exports of U.S.-origin defense equipment to Hong Kong and take steps to impose new restrictions on shipments of dual-use technologies because of China’s actions to restrict Hong Kong’s autonomy. About 360 others were detained at a banned rally.

The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The Hong Kong Autonomy Act imposes sanctions on banks that do business with Chinese officials who are involved in cracking down on pro-democracy protesters in Hong Kong. The Hong Kong Monetary Authority and Securities and Futures Commission are responsible for implementing and administering financial sanctions in Hong Kong. As of this writing, the legislation has passed both the House of Representatives and the Senate and awaits the US It remains to be seen if Trump will fully implement the sanctions. Last week, he indicated that the chances of negotiating a phase two trade deal with China were slim because of the pandemic, telling reporters that the U.S. relationship with China had been “severely damaged.”. Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Foreign Policy.

In the latest round of punitive measures that the U.S. government has imposed on Hong Kong, the Trump Administration announced on Aug. 7 that it would sanction 11 high-ranking Hong Kong officials, including the city’s leader Chief Executive Carrie Lam.. Peoples Republic of China. Hong Kong, Veronique Marquis, Eversheds The Hong Kong Autonomy Act, which received unanimous support in the House and Senate, is the second bill targeting China that Trump has signed into law in the past month, after signing legislation that would pave the way for sanctions of Chinese officials responsible for the country’s crackdown on Uighur Muslims. Just hours after the law was passed, Hong Kong police made their first arrests. Chinese officials have denied that they intend to eliminate Hong Kong’s limited self rule under the “one country, two systems” principle that has guided relations between Beijing and Hong Kong for more than two decades. §§ 1601-1651, ​Hong Kong Human Rights and Democracy Act of 2019 (HKHRDA)​​, Hong Kong Autonomy Act, H.R.
China on Monday announced retaliatory sanctions on US officials. Hong Kong Monetary Authority

On Sunday, the company disclosed that Ms Cheng “does not have any legal or beneficial ownership or financial interest in any shares of the company”. 526), the United Nations Sanctions Ordinance (Cap.
The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. Trade and Industry Department Tower, US banks are directly prevented from doing business with the individuals placed under sanctions and would have to freeze their assets or risk fines. Sign up for Hong Kong-Related Sanctions​ e-mail updates. All rights reserved. Ms Pelosi said the law was an "urgently needed response to [China's passing] of its so-called 'national security' law... which is purpose built to dismantle democratic freedoms in Hong Kong". Trump, for example, signed into law the recent legislation that sanctions Chinese officials tied to the detention and torture of the Uighurs. 2 Tim Mei Avenue Washington’s moves could have far-reaching implications beyond the targeted individuals, with banks among those that could be affected. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. T: (+852) 2878 8196 E: hkma@hkma.gov.hk Commerce and Economic Development Bureau (Commerce, Industry and Tourism Branch), 23/F West Wing Chiu Chui-Cheng, deputy head of Taiwan's Mainland Affairs Council, said the new security law was "the most outrageous in history". "This law gives my administration powerful new tools to hold responsible the individuals and the entities involved in extinguishing Hong Kong's freedom," Trump said in a Rose Garden appearance. These interpretations of OFAC policy are sometimes published in response to a public request for guidance or may be released proactively by OFAC in order to address a complex topic. Direct Pressure from Potential US Sanctions Builds on Greater Scrutiny from US BanksUS Sanctions Process May Start in OctoberA potential negative catalyst may arise by 12 October, when the US Secretary of State must deliver a report to the US Congress, under the Hong Kong Autonomy Act (HKAA), identifying foreign person(s) deemed to have contributed materially to the alleged failure of … "If the British side makes unilateral changes to the relevant practice, it will breach its own position and pledges, as well as international law and basic norms," said the Chinese Embassy in the UK.

Gloucester Tower The Landmark, 15 575). Hong Kong is one of the world's leading financial centres, with a stock market valued at HK$37.9tn ($4.9tn; £3.9tn), as of the end of June. indicated that the chances of negotiating, Pompeo moves to restrict defense and high-tech exports to Hong Kong, said that his administration would take steps. Last week, the Trump administration announced sanctions on three Chinese Communist Party officials over its repression of Uighur Muslims, an ethnic majority in northwest China, and Beijing leveled corresponding sanctions at U.S. lawmakers on Monday. Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports. Caitlin Oprysko contributed to this report. He added, sarcastically, that he would send Donald Trump $100 so the US president had something to freeze.

What if the US removes Hong Kong's special status? Contravention of the relevant provisions under the United Nations (Anti-Terrorism Measures) Ordinance shall be punishable on summary conviction by a fine of HKD100,000 and imprisonment for two years, or on conviction on indictment by an unlimited fine and imprisonment for 14 years. The Hong Kong Monetary Authority and Securities and Futures Commission are responsible for implementing and administering financial sanctions in Hong Kong.


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