By Pretish M J in Bengaluru and Michael Martina
LAWMAKERS in the U.S. House of Representatives have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector, saying the city has become a top location for money laundering and sanctions evasion.
Hong Kong has turned into a hub for many violations of U.S. trade controls, including export of controlled Western technology to Russia and the creation of front companies to buy Iranian oil, the bipartisan leaders of the House of Representatives Select Committee on the Chinese Communist Party said in a letter to Yellen.
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