Ukrainian Foreign Minister Dmytro Kuleba has called on Hong Kong to prevent Russia from using the city as a financial loophole to evade Western sanctions. The request was made during Kuleba's visit to the Asian financial hub, where he met with Hong Kong leader John Lee.
The United States and the European Union have imposed sanctions on numerous companies in Hong Kong and mainland China to help Russia circumvent measures put in place after the invasion of Ukraine. These sanctions particularly target the supply of dual-use goods, such as semiconductors, which can be used for both civilian and military applications.
Kuleba stressed the importance of these sanctions in weakening Russia's ability to wage war and urged Hong Kong to maintain its reputation as a liberal economy with strong respect for the rule of law.
The Hong Kong government has stated that it strictly enforces the United Nations Security Council (UNSC) sanctions. However, it has also previously indicated that it is under no obligation to apply unilateral sanctions imposed by other countries. That stance was highlighted when a yacht linked to a Russian oligarch sanctioned by the US, EU and UK was allowed to dock in the city in October 2022.
Despite this, Hong Kong-based international companies, including Chinese banks, have generally complied with US sanctions to avoid the risk of being excluded from the dollar-dominated global financial system.
Kuleba's visit to Hong Kong concluded his trip to China, marking the first time Russia's close ally has hosted a senior Ukrainian official since the invasion began more than two years ago.
During his visit, Kuleba also met with Chinese Foreign Minister Wang Yi and expressed Ukraine's readiness for peace talks when Russia is willing to negotiate in good faith. This comes as China faces growing pressure from the West over its deepening ties with Russia and accusations that it is helping Moscow's war efforts by providing dual-use goods, a claim Beijing denies.
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