Economic Espionage Prevention Act

Floor Speech

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Mr. MEEKS. Mr. Speaker, I rise in strong support of H.R. 8361, as amended, and I yield myself such time as I may consume.

Mr. Speaker, 2\1/2\ years ago, we saw an unprovoked and brutal invasion of Ukraine by Russia, an act that has destabilized Europe and challenged the principles of sovereignty and self-determination. This blatant aggression is a direct attack on the international order that has kept the peace for decades.

Though Russia's illegal behavior is uniquely indefensible, countries such as China that have aggressively done business with the Russian military-industrial defense base are certainly not blameless.

The United States Government, including the House Committee on Foreign Affairs in a bipartisan manner, has engaged in extensive diplomacy to discourage countries from providing financial and material support for the Russian invasion.

The Biden-Harris administration has also used economic statecraft, including expansive export controls, to prevent key dual-use electronics items from reaching Moscow. Full blocking sanctions are a particularly formidable economic weapon, and the Biden-Harris administration has begun to use this part of the arsenal.

Bipartisan support for this legislation affirms that position, and financial sanctions must be on the table.

Finally, by imposing sanctions on the PRC and other entities that are fueling Russia's military machine, we send a clear message: We will not stand idly by while Ukraine's sovereignty is trampled.

This bill underscores the importance of unity among nations in opposing tyranny and supporting democracy.

Mr. Speaker, I encourage my colleagues to support this bill, and I reserve the balance of my time.

Mr. Speaker, H.R. 8361, as amended, is a valuable bill that grants the administration important authorities with necessary flexibility to sanction the PRC and other foreign businesses in league with the Russian defense industry base. I think this is something we all agree upon, and I urge all of my colleagues to vote ``yea'' on this legislation.

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