![]() ![]() companies “increasingly view Hong Kong’s business environment with wariness” due to an erosion of Hong Kong’s once high degree of autonomy and its freedoms.īeijing sets foreign policy for Hong Kong and has demurred from participating in sanctions against Russia for its attack on Ukraine.īritain handed control over its colony Hong Kong to China in 1997, promising to respect its semi-autonomous status as a separate economic and customs territory. The State Department spokesperson also said the city’s reputation as a financial center “depends on its adherence to international laws and standards” and that U.S. State Department spokesperson said in a statement Monday that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.” ![]() “We will comply with United Nations sanctions, that is our system, that is our rule of law,” he said.Ī U.S. “We cannot do anything that has no legal basis,” Lee told reporters. Hong Kong authorities have said that they do not implement unilateral sanctions imposed by other governments. and the European Union in February after Russia’s invasion of Ukraine. Mordashov, who is believed to have close ties to Russian President Vladimir Putin, was sanctioned by the U.S., U.K. Lee’s statement Tuesday came days after a luxury yacht connected to Russian tycoon Alexey Mordashov docked in the city. ![]() warned the territory’s status as a financial center could be affected if it acts as a safe haven for sanctioned individuals. HONG KONG (AP) - Hong Kong’s leader John Lee said Tuesday he will only implement United Nations sanctions, after the U.S. ![]()
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