H.R. 10138 — CCP Fentanyl Sanctions Act

This section codifies sanctions under Executive Order 14059 on foreign persons involved in the global illicit drug trade, requiring them to remain in effect as they applied the day before enactment.

This section authorizes the President, beginning 180 days after enactment, to block all property and interests in property of foreign persons determined to have engaged in, facilitated, or received proceeds from activities contributing to the international proliferation of illicit synthetic narcotics involving the People’s Republic of China, Hong Kong, or Macau, including PRC ports, precursor producers, online marketplaces, and covered government entities. It applies International Emergency Economic Powers Act penalties and authorities, excludes sanctions on the importation of goods, and permits renewable 180-day national-interest waivers.

This section authorizes the Secretary of the Treasury, in consultation with the Secretary of State, to prohibit the opening of or impose strict conditions on correspondent or payable-through accounts in the United States by any foreign financial institution that the President determines has knowingly conducted or facilitated a significant transaction on behalf of a foreign person described in section 3(a) on or after the date of enactment.

This section defines terms used in the Act, including appropriate congressional committees as the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Foreign Affairs and Select Committee on Strategic Competition Between the United States and the Chinese Communist Party; covered PRC government entities that knowingly facilitate illicit synthetic narcotics into the United States or provide material support to sanctioned foreign persons; and related terms such as foreign person, illicit synthetic narcotics, knowingly, PRC, and United States person.