Overview

• Hong Kong's exports of advanced technology to Russia and Iran have surged, undermining international sanctions.
• A report highlights how Hong Kong businesses and government policies facilitate the smuggling of semiconductors and other restricted goods.
• Transshipments of high-priority items through Hong Kong have decreased this year but remain significant.
• Hong Kong's regulatory environment allows rapid creation and dissolution of companies, aiding sanctions evasion.
• US and EU are urged to strengthen resources to target Hong Kong's role in the illicit trade.