Hong Kong Declines to Seize Superyacht Linked to Russian Oligarch
New York TimesJUL 2022
Hong Kong's decision to provide a safe haven for individuals evading sanctions from multiple jurisdictions has consequences. Its reputation as a financial center requires adherence and compliance with international standards, and its refusal to abide by those rules further calls into question the transparency of its business environment.
The comments by the US State Department are misleading and nothing more than a smear campaign against Hong Kong’s business operations. The city — which abides by UN sanctions as required — has no legal obligation or authority to impose Western sanctions. Over the years, Hong Kong has maintained a free, open, law-based business climate and will continue to do so.