Treasury Takes No Action on Hong Kong Banking Sanctions
- No ‘significant’ transactions yet found with sanctioned people
- Law seeks to bar banking by Carrie Lam, other officials
This article is for subscribers only.
The U.S. Treasury Department said Friday it hasn’t identified any banks or other financial institutions linked to a group of people sanctioned in October over China’s crackdown on Hong Kong.
The decision, announced in a report required by Congress, is likely to come as a relief to major banks that had sought to unwind any connection to those sanctioned for fear of facing punishment.