Economic Espionage Prevention Act

HR 1486, the Economic Espionage Prevention Act, requires the State Department to report within 90 days on Chinese entities supplying critical components (like semiconductors) to Russia's military or intelligence sectors. It authorizes sanctions against foreign entities - particularly those linked to China - that knowingly engage in economic espionage against U.S. entities, provide material support to Russia's military, or violate U.S. export controls. Sanctions include freezing assets held in the U.S., banning visas, and revoking existing entry documents for affected individuals and entities. The bill directly targets foreign entities, especially Chinese nationals or companies, found to facilitate Russia's war effort through prohibited transactions.