H.R. 10138

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The CCP Fentanyl Sanctions Act authorizes the President to impose financial sanctions against foreign individuals and entities involved in producing or distributing illicit synthetic narcotics from China, Hong Kong, or Macau. The bill targets a wide range of actors, including drug manufacturers, online marketplaces that facilitate drug sales, ports and ships used for smuggling, Chinese government entities that support the drug trade, and financial institutions that knowingly help them. Sanctions take effect 180 days after the bill's enactment and allow the President to block and prohibit all transactions involving the targeted parties' U.S. property and assets, with penalties for violations under existing international economic powers law. The President may waive sanctions for renewable 180-day periods if deemed in national interest and must respond within 120 days to congressional requests to determine whether specific individuals or entities should be sanctioned. The bill also allows the Treasury Secretary to restrict correspondent accounts used by foreign banks that conduct significant transactions for sanctioned drug traffickers.

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