Hong Kong leader says he 'laughs off' US sanctions

TL;DR

Mordashov is among the oligarchs close to Russian President Vladimir Putin who have been targeted by Western sanctions following Moscow's invasion of Ukraine.Hong Kong chief executive John Lee himself is one of multiple Chinese officials sanctioned by the United States in 2020 for their roles in cracking down on political freedoms in the city.Banks and other companies risk losing access to the US-dominated global markets if they do business with sanctioned officials, with Lee's predecessor revealing she had to take most of her salary in cash as a result.When asked about the impact of US sanctions against him on Tuesday, Lee told reporters: "It is a very barbaric act and I am not going to comment on the effect of such barbaric act."Some sanctioned oligarchs have had their luxury yachts seized in places such as Spain and Fiji, but Hong Kong said Friday that while it implements UN sanctions, it cannot enforce those imposed "unilaterally" by countries or blocs."

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