Senators Seek to Sanction Chinese Entities That Finance Fentanyl Trade
Senate Foreign Relations Committee Chairman Jim Risch, R-Idaho, and ranking member Jeanne Shaheen, D-N.H., introduced a bill last week aimed at curbing China’s export of fentanyl precursor chemicals to Mexican drug traffickers.
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The Break Up Suspicious Transactions of Fentanyl Act, or the Bust Fentanyl Act, would authorize the president to sanction Chinese government-owned or controlled entities, including financial institutions, that finance foreign opioid trafficking.
The bill would encourage the administration to identify Chinese individuals and entities involved in producing and trafficking fentanyl or its precursors. The administration would also be encouraged to target financial institutions that enable money laundering.
The bill was referred to the Foreign Relations Committee, which plans to consider the legislation March 11.