Economic Espionage Prevention Act

Floor Speech

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Mr. McCORMICK. Madam Speaker, I thank Chairman Mast and the minority party for supporting this bill.

Since illegally invading Ukraine, the Russian Federation has become reliant on the People's Republic of China for its supply of semiconductors and other critical dual-use technologies. The State Department notified Congress last year that the PRC exports of semiconductors significantly increased in 2023 compared to pre-invasion levels.

These semiconductors are critical key aspects to the Russian war effort, including economic and electronic warfare, command and control, and targeting. These components allow Russia to terrorize Ukrainian civilians with ballistic missile strikes, as well.

The prevalence of U.S. manufacturing equipment in global semiconductor production means nearly all are subject to U.S. export controls if destined for Russia or Belarus.

My bill seeks to reduce Russia's access to these semiconductors by authorizing sanctions on any foreign adversaries that materially support Russia's military and intelligence services, violate U.S. export laws, and steal U.S. intellectual property.

It further requires a report on whether China is providing significant support to Russia's military and updates existing law to provide greater flexibility to pursue sanctions against China and other foreign adversaries if they violate these export controls.

The PRC may publicly claim that they do not provide material support to the Russian invasion of Ukraine, but their continued supply of dual- use technology clearly shows otherwise.

Cutting off the supply of semiconductors will seriously hamper the Russian war effort and show the world that we will not allow our adversaries to work together to destroy sovereign nations and undermine the international system.

Madam Speaker, I urge my colleagues to support H.R. 1486.

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