CONFIDENTIAL
HONG KONG: FREEZING OF KUWAITI/IRAQI ASSETS: CHRONOLOGY OF
EVENTS
Thursday 2 August
0850
Hong Kong seek advice on controlling Kuwaiti assets following approach from
US Consulate General (HK telno 2414).
Friday 3 August
0500
We explain that the measures taken by the Treasury to freeze Kuwaiti assets
apply only to the UK mainland and
encourage Hong Kong and other dependent
territories to follow suit (FCO telno
1458).
0940
Copy of the UK Statutory Instrument
faxed to Hong Kong.
1031
1056
2130
BAYABI/3
Hong Kong provide estimate of the extent of Kuwaiti assets in the territory.
telno 2420).
(HK
Hong Kong explain that they do not wish
to recall LegCo to enact local
legislation and favour action by HMG. They point out that local financial
institutions are nevertheless
exercising caution in dealing with
Kuwaiti assets. (HK telno 2429).
We recommend that the Hong Kong
Government should nevertheless take
emergency powers before the opportunity
CONFIDENTIAL