Satellite Trade and Security Act of 2001

Satellite Trade and Security Act of 2001 - Requires all satellites and related items that were on the Commerce Control List of dual-use items (which can be used for civilian or military purposes) in certain Export Administration Regulations on October 16, 1998, and any other dual-use communications satellites and related items, to be controlled under the Export Administration Act of 1979 (in effect or as continued in effect under the International Emergency Economic Powers Act) or by the Secretary of Commerce under any successor Act to the Export Administration Act of 1979 (effectively giving the Secretary of Commerce (currently, the Secretary of State) jurisdiction over the export of commercial satellites and related items).

Sets forth certain license procedure requirements with respect to the export of commercial satellites and related items to foreign countries.

Imposes certain national security controls and requirements on the export of commercial satellites or related items for launch in, or by nationals of, any foreign country that is not a member of the North Atlantic Treaty Organization (NATO) or a major non-NATO ally of the United States.

Amends specified Federal laws to make conforming amendments with respect to this Act.