[co-author: Stephanie Cheung]
INTRODUCTION
Following our recent Client Alert published in October 2020 on the release of the Section 5(a) Report under the Hong Kong Autonomy Act of 2020 (“
HKAA”), there have now been some further updates in relation to U.S. sanctions affecting parties in Hong Kong and China which we discuss below.
TRUMP ADMINISTRATION IDENTIFIES FOUR ADDITIONAL CHINESE ENTITIES AS MILITARY COMPANIES
CCMC”). This list is required to be compiled and reported to the U.S. Congress. In addition to the companies already on the list from designations in June and August of this year, the four companies added in December are (i) high-tech state-owned enterprise group, China Construction Technology Co. Ltd. (CCTC); (ii) an engineering consulting business, China International Engineering Consulting Corp. (CIECC); (iii) China’s top chipmaker, Semiconductor Manufacturing International Corp. (SMIC); and (iv) China’s largest offshore oil and gas producer, China Natio
December 18, 2020
On December 14, 2020, the United States imposed sanctions on the Republic of Turkey’s Presidency of Defense Industries (“SSB”), the country’s defense procurement agency, and four senior officials at the agency, for knowingly engaging in a “significant transaction” with Rosoboronexport (“ROE”), Russia’s main arms export entity, in procuring the S-400 surface-to-air missile system. These measures were a long-time coming under Section 231 of the Countering America’s Adversaries Through Sanctions Act (“CAATSA”) of 2017, the President has been
required to impose sanctions on any person determined to have knowingly “engage[d] in a significant transaction with a person that is part of, or operates for or on behalf of, the defense or intelligence sectors of the Government of the Russian Federation.” This includes ROE, and Turkey’s multi-billion dollar S-400 transaction with ROE has been public knowledge for at least three years. Indeed, in
Transnational Criminal Organizations
Country-Level and Policy-Level Programs. Certain of the sanctions programs are focused on individual countries (the “country-level programs”), while others target specific activities on a global basis such as terrorist and non-proliferation sanctions (the “policy-level programs”). Under a number of the country-level programs (such as Iran, Syria, N. Korea, Cuba and the Crimea region of Ukraine – the “comprehensive sanctions programs”) U.S. persons are prohibited from entering into effectively all business transactions with the targeted country, its government and its nationals, including the export and import of products, technologies and services, payments and investments, subject to exceptions described below.[5] For other country-level programs, such as Russia, Ukraine and Venezuela, certain business activities within the country are prohibited but others are permitted (the “partial sanctions programs”). For
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The State Department announced the imposition of sanctions on the Republic of Turkey’s Presidency of Defense Industries (“SSB”), and four related Turkish individuals under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”) for engaging in a significant transaction with a designated party in the Russian defense sector for the procurement of the S-400 surface-to-air missile system from Russia. The sanctions prohibit the issuance of all U.S. export licenses and authorizations and certain loans to SSB, while designating four corporate officers of SSB as Specially Designated Nationals (“SDNs”) and imposing full blocking sanctions and visa restrictions on them.