Export Administration Act of 2001

Authorizes the President to prohibit, curtail, or require a license, or other authorization for the export of an item subject to the national security export control regimes under this Act. Sets forth the purposes of such controls, including restriction on the export of items (including weapons of mass destruction) that would contribute to the military potential of countries so as to be detrimental to the national security of the United States.

Requires the Secretary to establish a National Security Control List as part of the Control List.

Requires the Secretary (on a continuing basis, upon a request from the Office of Technology Evaluation, or upon receipt of a petition filed by an interested party) to review and determine the foreign availability and the mass-market status of any item for export control under this Act.

Authorizes the President, subject to specified exceptions, to prohibit, curtail, or require a license, other authorization, recordkeeping, or reporting for the export of an item subject to the foreign policy export control regimes under this Act.

Requires a license for the export to a terrorist-supporting country of any item that could make a significant contribution to the country's military potential, or could enhance its ability to support acts of international terrorism.

Exempts agricultural commodities, medicine, and medical supplies from the foreign policy export controls imposed under this Act, except for any such items that are subject to the national security export controls of this Act or are listed on the U.S. Munitions List, or would otherwise be exported to a country against which an embargo is in effect under the Trading With the Enemy Act.

Sets forth procedures for the processing of export license applications, including their screening, referral, approval or denial, and review.

Declares it is U.S. policy to seek multilateral arrangements, and to continue to participate in existing and additional multilateral export control regimes, that: (1) support U.S. national security interests; and (2) establish fairer and more predictable competitive opportunities for U.S. exporters.

Directs the President to issue regulations that prohibit, with specified exceptions, U.S. persons from supporting any boycott imposed by a foreign country against a country friendly to the United States that is not itself the object of a U.S. boycott. Sets forth both civil and criminal penalties for violations of this Act.

Provides, with specified exceptions, for the imposition of certain sanctions against U.S. and foreign persons who violate a multilateral export control regime or missile proliferation control regime, or contribute to the efforts of a country to develop or acquire chemical and biological weapons.