OFAC regulations implementing Executive Order 13936 ("The President's Executive Order on Hong Kong Normalization") ("EO 13936") were published in the Federal Register. The regulations went into effect on January 15, 2021. OFAC stated that it intends to adopt comprehensive supplementary regulations that may include further "interpretive and definitional guidance, general licenses, and statements of licensing policy."

As previously covered, in EO 13936, President Trump authorized the blocking of U.S. property interests and other measures against any person:

  • involved in implementing the "Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Administrative Region," including coercing, arresting, detaining or imprisoning individuals under the new law's authority;

  • complicit or engaged in activities (i) undermining democratic processes or threatening the peace, security, stability or autonomy of Hong Kong, (ii) prohibiting or penalizing the freedom of expression of the citizens of Hong Kong, or (iii) violating internationally recognized human rights (e.g., by arbitrary detention or torture);

  • acting as an official or leader of an entity that is engaged in any of the aforementioned activities or whose property is sanctionable under the order;

  • providing material assistance or support (e.g., financial, material or technological aid) to any person whose property is sanctionable under the order;

  • owned, controlled or acting on behalf of any person whose property is sanctionable under the order; or

  • acting as a member of a board of directors or a senior executive officer of any person whose property is sanctionable under the order.