Sanctions Top-5 for the week ending 16 July 2021

Here are five things that happened this week in the world of economic sanctions that I think you should know about.

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This week’s briefing covers the weeks ending 7 and 16 July 2021.

  1. The US Departments of Treasury, State, Commerce, and Homeland Security published an advisory called “Risks and Considerations for Businesses Operating in Hong Kong” giving the US government’s opinions on recent political developments and summarizing Hong Kong-related US sanctions. (The advisory is not a regulation and does not impose any new obligations on US persons.)

Comments

For those of us who are actually in Hong Kong, the US government’s advisory doesn’t say much that we haven’t heard before. For another perspective, you should read Kurt Tong’s editorial in Foreign Affairs, “Hong Kong and the Limits of Decoupling.” (Tong is the former US Consul General in Hong Kong.) The takeaway: “Foreign governments have few tools to specifically punish China . . . without simultaneously hurting their own national interests and damaging the livelihoods of innocent bystanders in the territory.”

Looking for a primer on all things sanctions? Check out the second edition of the Guide to Sanctions from Global Investigation Review (GIR) with a forward by Sigal Mandelker, former Under Secretary of the Treasury for Terrorism and Financial Intelligence, and an updated introduction by Rachel Barnes, Paul Feldberg, and me. The second edition features more than 20 chapters authored by some of the world’s leading sanctions and export control gurus. Download or purchase a copy here.

Did I miss something? Send me a message or comment on LinkedIn.

(The views expressed are my own and do not constitute legal advice. Photo from Vladislav Reshetnyak.)

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Nicholas Turner

US attorney in Hong Kong specializing in economic sanctions, financial crimes. Sign up for emails: http://eepurl.com/cVhTXf LinkedIn at: http://goo.gl/KX1jER