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US Banks to be Penalised for doing Business with Chinese officials

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US banks will soon face penalties for doing business with Chinese officials, after sanctions were approved by the US House of Representatives.

According to the BBC, this comes after Beijing imposed a security law which it said was needed to stop the type of protests seen in Hong Kong in 2019.

Countries around the world criticised the law while House Speaker Nancy Pelosi described it as a brutal, sweeping crackdown against the people of Hong Kong, intended to destroy the freedoms they were promised.

The BBC reported that the sanctions will have to be passed in the Senate before going to President Donald Trump.

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