S. 2275: AIRSHIP Act of 2023

This bill imposes sanctions on specified Chinese companies and individuals.

Specifically, the Department of the Treasury must add certain companies, such as the Beijing Nanjiang Aerospace Technology Company and the Dongguan Lingkong Remote Sensing Technology Company, to the Non-SDN Chinese Military-Industrial Complex Companies List maintained by the Office of Foreign Assets Control (OFAC). (Companies on this list are subject to certain restrictions, including prohibitions on U.S. persons engaging in transactions involving the publicly traded securities of the company.)

Treasury must also add certain individuals, such as Wu Zhe, professor of aeronautics at Beihang University, to the Specially Designated Nationals and Blocked Persons List maintained by OFAC. (Individuals and entities on this list are subject to asset- and transaction-blocking sanctions.)

Written by the Congressional Research Service, Library of Congress.