A new report from the Committee for Freedom in Hong Kong Foundation reveals how Hong Kong has become a crucial hub for evading international sanctions imposed on US adversaries. The 62-page analysis, “Beneath the Harbor,” details how Hong Kong companies facilitate the export of goods critical to Russia’s military efforts and assist Iran and North Korea with shipping. The report criticizes Hong Kong for acting as a safe haven for sanction evaders, with evidence of Hong Kong subsidiaries managing Russian vessels and brokering transactions for sanctioned entities. It calls for the US and EU to target individuals and firms facilitating sanctions evasion, rather than just the companies directly involved. The report was led by Samuel Bickett, an expert in Hong Kong’s legal and economic systems.
