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On January 15, 2021, the Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule  adding regulations (31 C.F.R. Part 585) to implement Executive Order (E.O.) 13936 of July 14, 2020. OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and statements of licensing policy.

In E.O. 13936, the President determined that, pursuant to section 202 of the United States-Hong Kong Policy Act of 1992, the Special Administrative Region of Hong Kong (Hong Kong) is no longer sufficiently autonomous to justify differential treatment in relation to the People’s Republic of China (PRC or China) under the particular United States laws and provisions thereof set out in E.O. 13936.

The Regulations are being published in abbreviated form at this time for the purpose of providing immediate guidance to the public. OFAC intends to supplement this part 585 with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and statements of licensing policy. The appendix to the Regulations will be removed when OFAC supplements this part with a more comprehensive set of regulations.