This bill, titled the CCP Fentanyl Sanctions Act, would keep in force an existing executive order and authorize new sanctions 180 days after enactment. It lets the President block property and ban transactions under the International Emergency Economic Powers Act (IEEPA) for foreign persons who the President determines have helped produce, ship, sell, or otherwise contributed to the international spread of illicit synthetic narcotics or their precursors in the People’s Republic of China (including Hong Kong and Macau). The bill lists categories of covered persons, including ports, ships, producers of precursors, online marketplaces, certain PRC government entities, and entities set up to evade sanctions. It allows a presidential waiver of sanctions for renewable 180-day periods and requires the President to consider information from specified congressional committees and from other countries and nongovernmental organizations when deciding on sanctions. The bill also authorizes the Treasury Secretary, in consultation with the Secretary of State, to limit or bar correspondent or payable-through accounts in the United States for foreign banks that knowingly facilitate significant transactions for designated persons. The bill includes exceptions for authorized U.S. intelligence and law enforcement activities and says the sanctions authority does not include imposing sanctions on the importation of goods.
No publicly available information.
The text of the bill states its purpose: to authorize sanctions relating to the production and distribution of illicit synthetic narcotics by the People’s Republic of China. The bill’s sponsors have introduced this measure to provide statutory authority to block property and restrict financial relationships for persons they determine are involved in the international proliferation of illicit synthetic narcotics or their means of production.
No publicly available information.