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International relations

US threatens sanctions against banks over Hong Kong crackdown

State Department says it will identify institutions within 60 days

Riot police disperse pro-democracy protesters during a demonstration opposing postponed elections in Hong Kong.   © Reuters

WASHINGTON (Reuters) -- The U.S. State Department on Wednesday warned international financial institutions doing business with individuals deemed responsible for China's crackdown in Hong Kong that they could soon face tough sanctions.

In a report to Congress, the State Department named 10 people, including Hong Kong's chief executive Carrie Lam, all of whom have already been sanctioned, and said within 60 days it would identify financial institutions that conduct significant transactions with them.

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