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US says no banks linked to people sanctioned over Hong Kong crackdown

13 December 2020 - 07:30 By Reuters
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Treasury Secretary Steven Mnuchin testifies during a hearing on "Examination of Loans to Businesses Critical to Maintaining National Security" before the Congressional Oversight Commission at Dirksen Senate Office Building, in Washington, US, December 10, 2020.
Treasury Secretary Steven Mnuchin testifies during a hearing on "Examination of Loans to Businesses Critical to Maintaining National Security" before the Congressional Oversight Commission at Dirksen Senate Office Building, in Washington, US, December 10, 2020.
Image: Alex Wong/Pool via REUTERS

 The US Treasury said on Friday it has not identified any foreign financial institution “that has knowingly conducted a significant transaction” since October 14 with individuals deemed responsible for China's crackdown in Hong Kong.

The Treasury assessment was required under a State Department report in October that put international banks on notice that they would face sanctions if they were found to be doing business with US-blacklisted officials in Hong Kong.  

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