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

By Reuters - 13 December 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.