The Treasury Department’s Office of Foreign Assets Control has issued the Hong Kong-Related Sanctions Regulations to implement Executive Order 13936 of July 14, 2020. These regulations, which are effective as of Jan. 15, include provisions on prohibited transactions, licenses, authorizations, statements of licensing policy, penalties, reports, and procedures.
OFAC states that these regulations are being published in abbreviated form to provide immediate guidance to the public and that it intends to supplement this rule with a more comprehensive set of regulations that may include additional interpretive and definitional guidance, general licenses, and statements of licensing policy.
For more information on these regulations and the trade-related prohibitions they include, please contact Kristine Pirnia.
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