US Sanctions Threaten Hong Kong Banks Over Iranian Oil Trade
The United States is escalating its financial pressure on Tehran by threatening secondary sanctions against Chinese and Hong Kong banks that process payments related to Iran’s oil trade. This move places financial institutions squarely in the middle of a growing regulatory conflict between Washington and Beijing. US Treasury Secretary Scott Bessent has directly warned several […]
US hits Hong Kong and UAE firms with new round of Iran-related sanctions
The United States unveiled another round of sanctions targeting 10 individuals and 27 entities tied to Iran’s financial network, spotlighting the crucial financial role it believes Hong Kong and the United Arab Emirates play to help Tehran avoid Washington’s efforts. Aimed at Iranian nationals and a mainland Chinese national as well as Hong Kong and […]
Hong Kong vows enforcement of UN Iran sanctions, hits out at US measures
Locally based Super Sources Industrial and owner Wang Chao among list of firms, individuals hit by US sanctions for alleged Iran missile programme support. The Hong Kong government has reaffirmed its commitment to strictly enforcing UN Security Council sanctions while hitting out at the United States’ unilateral decision to penalise a company based in the […]
China imposes Hong Kong sanctions on US congressmen
A spokesman for China’s Ministry of Foreign Affairs said “Any wrongful actions taken by the United States side on Hong Kong-related issues will be met with China’s resolute retaliation and reciprocal countermeasures.” China will apply tit-for-tat sanctions on US Congress members, officials, and heads of non-governmental organisations Beijing said had ‘acted egregiously’ on Hong Kong-related […]
Biden signs Pentagon budget bill that extends sanctions on Hong Kong officials
US National Defence Authorisation Act, annual omnibus bill, also includes extension of China sanctions in Tibet and Uygur legislation. US President Joe Biden has signed key legislation into law that extends for another five years the Hong Kong Human Rights and Democracy Act of 2019, including its sanctions on key Chinese officials. Biden signed the […]