Strengthening Sanctions on Fentanyl Traffickers Act of 2023 This bill provides statutory authority for certain sanctions and extends certain requirements with respect to foreign individuals or entities involved in trafficking fentanyl or fentanyl analogues into the United States. For example, the bill extends until December 31, 2030, provisions that require the President to report on foreign opioid traffickers. It also requires the President to prioritize individuals who are citizens or nationals of China and entities that are based in China, including pharmaceutical companies, that are involved in trafficking fentanyl or fentanyl analogues in these reports. In addition, the bill requires the President to continue to impose certain sanctions against specified transnational criminal cartels (i.e., Mexican cartels) and to notify Congress before ending such sanctions. The bill also provides statutory authority for the executive order titled Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade , which was issued on December 15, 2021. The order authorizes certain sanctions against foreign individuals or entities that are engaged in international drug trafficking, including blocking banking, property, and other financial transactions.