Trump Administration Set to Sanction Foreign Financial Institutions Over Hong Kong

July 17, 2020 | BY

Vincent Chow

Global banks are increasingly being forced to pick a side amidst U.S.-China hostilities

The Trump administration will sanction foreign financial institutions that conduct "significant transactions" with individuals and entities accused of eroding Hong Kong's autonomy. Lawyers say that the recent flurry of legislation and executive action in the U.S. over Hong Kong could force multinational banks to choose a side amidst worsening U.S.-China hostilities.

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