This bill penalizes U.S. persons (individuals or entities) that participate in certain boycotts imposed by international governmental organizations (IGOs).
The bill expands an existing law that prohibits various actions by U.S. persons in relation to boycotts imposed by foreign governments on a country that is friendly to the United States and not itself the object of a U.S. boycott. This bill applies those prohibitions to similar boycotts imposed by IGOs.
Prohibited actions include (1) refusing to do business with companies organized under the laws of the boycotted country, if the refusal is pursuant to an agreement with or request from the country or IGO imposing the boycott; (2) furnishing information about whether any person has a business relationship with or in the boycotted country; and (3) furnishing information about whether someone is associated with charitable or fraternal organizations that support the boycotted country.
Criminal penalties for willful violations of this law include fines of up to $1 million. In addition to such fines, individuals may be imprisoned for up to 20 years. Civil penalties may include fines and revocations of export licenses for certain national security-related items.
The bill also requires the President to annually submit to Congress and make available to the public a report describing these boycotts and listing the foreign countries and international governmental organizations involved in fostering or imposing them.