The Cambodian government on Sept. 20 continued to rail against sanctions imposed on Chinese developer Union Development Group (UDG) by the US Treasury’s Office of Foreign Assets Control (OFAC). UDG was hit with Magnitsky sanctions by the US on Sept. 15, after OFAC reported that the Chinese company had falsified registration documents to acquire land concessions in Koh Kong Province and subsequently forced Cambodians from their homes.
“After falsely registering as a Cambodian-owned entity in order to receive land for the Dara Sakor development project, UDG reverted to its true ownership and continued to operate without repercussions,” said Secretary Steven T. Mnuchin in an OFAC press statement on Sept. 15.
“The United States is committed to using the full range of its authorities to target these practices wherever they occur,” he added.
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