World News

2019, the U.S. Treasury Department accused Dehghan of using a company in Hong Kong as a front to procure more than $1 million in sensitive equipment for use by companies with ties to Iran’s missile program and the Islamic Revolutionary Guard Corps.

That didn’t stop him. A Treasury designation is meant to prevent a company from being used to acquire restricted goods.

The city’s ease of setting up new companies and moving money has made it a global financial hub and a useful spot for evading sanctions.

It’s quite ironic that the financial and legal framework that Britain had set up is making Hong Kong so suitable for avoiding punitive western sanctions.