📡Guardians of Hong Kong
9.53K subscribers
21.6K photos
1.88K videos
27 files
9.99K links
We provide translation of news in English from local media and other sources, for academic use.
Facebook: http://bit.ly/BeWaterHongKong
Instagram: @guardiansofhk
Website: https://guardiansofhk.com/
Download Telegram
#Sanction #HongKongAutonomyAct
#US State Department Warns: Foreign Financial Institutions  Will Be Sanctioned For Trading With HK and PRC Officials on US Sanction List

The US Department of State submitted a report on Oct 14, 2020 with regard to The Hong Kong Autonomy Act.

The report warned:

- In 30 to 60 days from Oct 14, 2020, a report identifying the foreign financial institutions (#FFI) that knowingly conduct a significant transaction with the sanctioned persons will be submitted to the US Congress.

- Within one year after an FFI has been included in the said report, the U.S. President shall impose 5 out of 10 of the sanctions (as follows) and ALL of the sanctions no later than two years. These include:

(1) restrictions on loans from U.S. financial institutions;

(2) prohibitions on designation as a primary dealer;

(3) prohibitions on service as a repository of government funds;

(4) restrictions on foreign exchange;

(5) prohibitions on banking transactions;

(6) prohibitions on property transactions;

(7) restrictions on exports, re–exports, and transfers;

(8) bans on investments in equity or debt;

(9) exclusions of corporate officers; and

(10) sanctions of principal executive officers.

- Not later than one year from Oct 14, 2020, the U.S. President shall impose certain blocking sanctions on the listed persons and subject them to visa restrictions and exclusion from the United States. The sanctioned persons in Hong Kong and China include:

(1) Xia Baolong, the head of the Hong Kong and Macao Affairs Office

(2) Zhang Xiaoming, Deputy Director of the Hong Kong and Macao Affairs Office

(3) Luo Huining, director of the Central Government Liaison Office

(4) Carrie Lam, Chief Executive of Hong Kong

(5) Teresa Cheng, Secretary for Justice and principal legal advisor to Chief Executive 

(6) Erick Tsang, Secretary for Constitutional and Mainland Affairs

(7) Zheng Yanxiong, head of the Office for Safeguarding National Security of the Central Government in Hong Kong

(8) Eric Chan, Secretary-General of the Committee for Safeguarding National Security of the HKSAR

(9) John Lee, Secretary for Security

(10) Chris Tang, Commissioner of Police

The State Department emphasized that the release of the report shows US' "ongoing objection to Beijing’s actions that are intentionally designed to erode the freedoms of the people of Hong Kong and impose the CCP’s oppressive policies".

Image: Apple Daily
Source: U.S. Department of State #Oct14

https://www.state.gov/identification-of-foreign-persons-involved-in-the-erosion-of-the-obligations-of-china-under-the-joint-declaration-or-the-basic-law/

#US #USSanction