Strengthening Fentanyl Sanctions: Targeting Traffickers, Families, and Financial Networks.
This bill aims to curb the flow of illicit fentanyl into the US by significantly strengthening economic sanctions against foreign drug traffickers and their support networks. It mandates sanctions against foreign persons, their adult family members, and state agencies involved in fentanyl production, distribution, or financing. The law also requires the Treasury Department to scrutinize specific Chinese entities and enhance measures against international money laundering related to illicit drugs.
Key points
Expanded Sanctions Scope: Sanctions now apply not only to fentanyl traffickers but also to their adult spouses, family members, and entities they own or control, unless specific conditions are met.
Financial Deterrence: The Treasury Department gains authority to impose special anti-money laundering measures on US financial institutions regarding foreign transactions linked to fentanyl financing.
Targeting Chinese Entities: The law requires a rapid determination and potential sanctioning of specific entities in the People's Republic of China, including major banks and government agencies, if they are complicit in fentanyl production or distribution.
Expired
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