Avalon would like to remind you that as of July 14, 2020, pursuant to Executive Order 13936, the United States suspended/eliminated different and preferential treatment for Hong Kong. As such, please be aware that Hong Kong has been added to the OFAC Sanctions Program List.
We urge you to visit the U.S. Department of the Treasury's Hong Kong Related Sanctions website . You are able to read and review FAQs, Interpretive Guidance and Guidance on OFAC Licensing Policy.
Please note that effective immediately, all cargo insurance requests to and from Hong Kong will require OFAC screening of the parties. This will require copies of the commercial invoices and bills of lading. The Executive Order removes all special treatment of Hong Kong as an independent nation and subjects it to the same treatment as China along with revoking all export permits at this time
Please make sure you adjust your processes accordingly. Avalon is here to assist you. If you have any questions regarding this matter, please contact your Avalon representative.
The Quest Newsletter is designed to provide critical information in the transportation industry. Avalon Risk Management is not responsible for the accuracy or reliability of information contained in articles. The reader/user assumes all risk in the use of such information.