US Congress passes bill penalising banks doing business with China over Hong Kong's national security law

The US Congress on Thursday (local time) unanimously gave nod to a bill penalising banks doing business with Chinese officials responsible for imposing the security law in Hong Kong, Al Jazeera reported.

The US Congress on Thursday (local time) unanimously gave nod to a bill penalising banks doing business with Chinese officials responsible for imposing the security law in Hong Kong, Al Jazeera reported. "This is an urgent moment. Our timing could not be more critical," Democratic Senator Chris Van Hollen, a lead sponsor of the "Hong Kong Autonomy Act," was quoted as saying in a Senate speech urging support for the legislation.

Echoing similar sentiments, Republican Senator Pat Toomey said, "Through this bill, the US Senate makes clear which side we are on." According to the bill, sanctions will be imposed on companies violating Hong Kong's autonomy.

Earlier, the US had announced ending of Hong Kong's special status under US law, halting defence exports and restricting the territory's access to high-technology products from the US. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)