US SB688

Creates a publicly maintained "Black List" (IUU Vessel List) of foreign vessels, fleets, and beneficial owners engaged in illegal, unreported, and unregulated fishing or fishing involving forced labor, with listed vessels prohibited from accessing U.S. ports, territorial waters, and from importing seafood into the United States

Authorizes the Secretary of the Treasury to impose sanctions including property blocking and visa revocation on foreign persons, vessels, or entities participating in IUU fishing, trafficking of endangered fish species, or providing material support for such activities

Requires the Coast Guard to increase high seas boarding and inspection of vessels suspected of IUU fishing, and mandates a report to Congress within 3 years on enforcement actions, bilateral agreements, and patrol activities

Authorizes $20 million annually for fiscal years 2025-2030 to the Department of Commerce to maintain the IUU vessel list, and $4 million for a National Academies study on the economic impacts of IUU fishing and forced labor in fishing

Directs federal agencies to develop strategies for data sharing, improve seafood import risk-targeting, and increase technical assistance and capacity-building support to foreign nations for sustainable fisheries management