US targets Hong Kong leader however, not banks in sanctions report
15 October, 2020
US on Wednesday (Oct 14) renewed pressure against Hong Kong's leader, accusing her of undermining autonomy from China, but stopped short of imposing sanctions on banks under a hardcore new law.
The State Dept. issued its first report mandated to Congress under the Hong Kong Autonomy Act, a law passed by Congress targeted at making the tightening restrictions on the financial hub costly for Beijing.
The report "underscores our ongoing objection to Beijing's actions that are intentionally designed to erode the freedoms of the persons of Hong Kong and impose the CCP's oppressive policies", the State Department said, referring to the Chinese Communist Party.
Based on the report, the Treasury Department added 10 people to its blacklist of "Specially Designated Nationals" subject to sanctions including Lam, Hong Kong's pro-Beijing leader.
The move has limited practical effect as america had already imposed sanctions under separate authorities against Lam and the nine others in August, restricting any US-based financial transactions with them.
The Hong Kong Autonomy Act goes a step beyond previous US efforts by laying the groundwork for sanctions in the world's greatest economy against banks viewed as abetting the clampdown in the town.
The release of the report have been eagerly watched in Hong Kong as Secretary of State Mike Pompeo has openly criticized banking giant HSBC, accusing it to do business with sanctioned individuals while "shutting makes up about those seeking freedom".
The US pressure comes after China imposed a sweeping new security law on the town, which was promised a separate system when Britain handed the territory back again to Beijing in 1997.
Lam has denounced the US sanctions but acknowledged in August they have caused her "a small amount of inconvenience" by hindering her make use of credit cards.
Other officials targeted by the sanctions include Luo Huining, the director of the Liaison Office that represents Beijing in Hong Kong, and Hong Kong's police commissioner, Chris Tang.
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