WASHINGTON - The countdown has begun on whether banks will be ensnared in the Trump administration's sanctions on Chinese and Hong Kong officials, singled out for contributing to a clampdown on political freedoms in the Asian hub.
The follow up will identify"any foreign financial institutions that knowingly conduct a significant transaction with the foreign persons listed in this report," the State Department said based on what is laid out in the Hong Kong Autonomy Act. A government spokesman urged the US to refrain from taking measures that may undermine the interests of the international financial system.
Source: News Formal (newsformal.com)
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