OFAC announces Hong Kong-related designations
On December 7, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) added 14 Chinese citizens to the Specially Designated Nationals List. The individuals were designated under Executive Order (E.O.) 13936, which was issued by President Trump in July and, among other things, targets and authorizes the imposition of sanctions on persons who materially assist, sponsor, or provide financial, material, or technological support to activities contributing to the undermining of Hong Kong’s democracy and autonomy. Additionally, E.O. 13936 states that “[a]ll property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person, . . .are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in” with any foreign person identified to have engaged in the aforementioned activities.