This bill makes changes to various laws pertaining to sanctions, including by revising the definition of what constitutes a foreign opioid trafficker.
Specifically, for the purposes of the Fentanyl Sanctions Act, the bill changes the definition of foreign opioid trafficker to specify that the term includes certain Chinese entities and government officials that fail to take steps to prevent opioid trafficking, potentially subjecting them to sanctions.
The bill imposes additional requirements before the President can publish regulations under the International Emergency Economic Powers Act, which authorizes the President to regulate a variety of economic transactions following a declaration of national emergency. For example, the President must consider the costs and benefits of available statutory and regulatory alternatives prior to publishing such regulations.
The bill also provides 10-year statutes of limitation for violations of two federal laws that authorize sanctions (the International Emergency Economic Powers Act and the Trading with the Enemy Act).
