FREED Act

The FREED Act expands U.S. sanctions against foreign individuals and entities involved in fentanyl trafficking. It creates new criteria for imposing sanctions on foreign persons who knowingly support opioid trafficking, provide financial/technical assistance, or are connected to sanctioned entities - extending this to foreign government agencies and their officials. The bill requires the Treasury Secretary to review specific Chinese entities (including Bank of China, customs agencies, and biotech firms) within 60 days to determine if they should be sanctioned for fentanyl-related activities. It also directs Treasury to address money laundering risks tied to illicit fentanyl financing and submit annual reports on enforcement improvements. The law focuses on economic penalties for foreign actors, not domestic policy changes.