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Sanctions on Foreign Flash Memory Companies Threatening US Interests

This act aims to impose financial sanctions on foreign flash memory integrated circuit companies linked to countries deemed a threat to US interests, including China. US citizens and companies will be prohibited from engaging in significant transactions with these entities, intending to protect American supply chains and national security.
Key points
Asset Blocking: US persons and entities will be prohibited from conducting significant financial transactions with designated foreign flash memory producers.
Purpose: To safeguard American supply chains and national security from companies affiliated with countries like China, Russia, Iran, North Korea, Cuba, and Venezuela.
Exceptions: Sanctions do not apply to the importation of goods or US intelligence activities. The President can temporarily waive sanctions if vital to national security.
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Status:
Expired
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Additional Information
Print number: 117_S_5050
Sponsor: Sen. Cotton, Tom [R-AR]
Process start date: 2022-09-29
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Defending Memory Chip Supply Chains from the Chinese Communist Party Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5050.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-09-29.

What are the main provisions?

Key points include:

  • Asset Blocking: US persons and entities will be prohibited from conducting significant financial transactions with designated foreign flash memory producers.
  • Purpose: To safeguard American supply chains and national security from companies affiliated with countries like China, Russia, Iran, North Korea, Cuba, and Venezuela.
  • Exceptions: Sanctions do not apply to the importation of goods or US intelligence activities. The President can temporarily waive sanctions if vital to national security.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cotton, Tom [R-AR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Security