Economic Espionage Prevention Act

HR 8361, the Economic Espionage Prevention Act, requires the State Department to submit a report within 90 days detailing Chinese entities (citizens or organizations) that knowingly supply critical components to Russia's military or intelligence sectors. The bill authorizes the President to impose sanctions - including property blocking and visa revocation - on foreign entities (including Chinese persons or entities) that engage in economic espionage, support Russia's military, or violate U.S. export controls. These sanctions target entities knowingly involved in activities that support Russia's war efforts, as defined in the bill. The report will analyze the extent of such transactions and potential sanctions, with annual updates required thereafter.