Senate Bill Seeks to Scrutinize Hong Kong’s Role in Evading Export Controls, Sanctions
Sens. John Curtis, R-Utah, and Jeff Merkley, D-Ore., introduced a bill April 8 that would require the administration to write a report to Congress on Hong Kong’s role in export control and sanctions evasion.
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The Stop Corrupt Communist Party Money Laundering Act, or Stop CCP Money Laundering Act, also would direct the Treasury Department to determine whether Hong Kong is a jurisdiction of primary money laundering concern.
“With this bill, the senators aim to hold Hong Kong accountable for its role in enabling criminal activities that benefit adversarial nations, including Russia, Iran, and the Chinese Communist Party,” a Curtis-Merkley press release says.
The House Select Committee on China said in November that Hong Kong had “become a global leader in practices such as importing and re-exporting banned Western technology to Russia, creating front companies for purchasing barred Iranian oil, facilitating the trade of Russian sourced gold, and managing ‘ghost ships’ that engage in illegal trade with North Korea” (see 2411250058).