H.R. 2914 — NO LIMITS Act of 2025

This section states congressional findings that (1) the Department of the Treasury’s Office of Foreign Assets Control designated PRC entity Sinno Electronics Co. Limited on September 30, 2022, and sanctioned PRC entity Changsha Tianyi Space Science and Technology Research Institute Co. LTD (Spacety China) on January 26, 2023, for providing material support to Russia’s defense industrial base and entities involved in combat operations in Ukraine; (2) PRC entities continue to evade U.S. sanctions to support Russia’s defense sector; and (3) new authorities are required to protect U.S. national security, citing Executive Order 13959 on PRC civilian companies supporting military activities. The section expresses the sense of Congress that Russia’s invasion of Ukraine is enabled by the PRC and that the President should cut off financing to PRC entities aiding Russia’s defense sector or military modernization, impose country-wide export controls on dual-use technology to the PRC to prevent diversion to Russia, and sanction PRC entities exporting weapons and dual-use technology (e.g., microelectronics, aerospace, automobiles) to Russia.

This section authorizes the President, on or after 90 days after enactment, to block (under the International Emergency Economic Powers Act [IEEPA, 50 U.S.C. 1701 et seq.]) all property and interests in property of foreign persons determined to be (1) located, headquartered, or organized in the People's Republic of China (PRC) and operating in Russia's technology, defense and related materiel, or other designated sectors of its economy; or (2) acting for or on behalf of PRC armed forces or intelligence services in malicious cyber activities, production or R&D of dual-use technology or defense materials, or evasion of U.S. export controls or sanctions. (Thus, blocked persons face asset freezes and U.S. transaction prohibitions enforceable via IEEPA authorities in 50 U.S.C. 1702 and 1704, with civil and criminal penalties under 50 U.S.C. 1705(b) and (c).) Additionally, on or after 180 days after enactment, the section authorizes IEEPA blocking sanctions on known Chinese military companies (e.g., Aviation Industry Corporation of China Ltd., China Electronics Technology Group Corporation) with business operations in Russia. The section provides exceptions for U.S. intelligence/law enforcement activities and importation of goods; and allows the President to waive sanctions for renewable 90-day periods if vital to U.S. national security interests (with congressional report).

This section directs the Secretary of the Treasury, in consultation with the Secretaries of State and Defense, to submit to the appropriate congressional committees (i.e., specified committees of jurisdiction in the House and Senate on foreign affairs, intelligence, banking, and strategic competition with China), not later than 180 days after enactment, a determination of whether each covered person meets the criteria for sanctions under section 3(c). Covered persons include eight specified People's Republic of China entities (e.g., China North Industries Group Corporation, Aviation Industry Corporation of China, China Aerospace Science and Industry Corporation).

This section expands licensing requirements applicable to People's Republic of China (PRC) or Russian entities on the Department of Commerce's Entity List—due to national security or foreign policy concerns—to also apply to any subsidiary or other entity controlled by such a listed entity. (Thus, this measure seeks to prevent diversion of controlled items to Russia's war effort through controlled affiliates.)

This section directs the Secretaries of Commerce, Defense, and State to issue regulations as necessary to implement this Act and its amendments not later than 90 days after the date of enactment.