The United States imposed sanctions against the Chinese state company Union Development Group Co., Ltd. through the Magnitsky Global Human Rights Act. This was stated in a statement issued on Tuesday by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department.
вЂњThe Office of Foreign Assets Control (OFAC) lists the Chinese state company Union Development Group for the seizure and destruction of Cambodian land during the Dara Sakor project. The listing is based on Executive Order 13818 as part of the Magnitsky Act,вЂќ the text says. вЂ” The decision is directed against serious human rights violators, corrupt officials, and their supporters. The company conducts its operations through the Cambodian General Kun Kim, listed in 2019 on the sanctions list for involvement in corruptionвЂќ.
According to Finance Minister Stephen Mnuchin, the company after вЂњfalse registration as a Cambodian enterpriseвЂќ ceased to hide its ownership. вЂњThe U.S. will use its full authority to counter such practices wherever they are conducted,вЂќ he said.