FREED Act

HR 6505, the FREED Act, expands U.S. economic sanctions against foreign individuals and entities involved in fentanyl trafficking. It targets foreign opioid traffickers, their family members, foreign government agencies supporting trafficking, and those providing financial or technological support, requiring the President to impose sanctions under specific criteria. The bill also directs the Treasury Secretary to address money laundering risks tied to fentanyl by identifying financial institutions or transactions as "primary money laundering concerns" and reporting on additional enforcement measures needed. It includes provisions for presidential waivers (for national security or humanitarian reasons) with congressional reporting requirements. The law applies directly to foreign actors, not U.S. citizens or domestic entities, focusing on disrupting international fentanyl supply chains through financial penalties.