OFAC May Issue Wind-Down Exceptions for Nord Stream 2 Sanctions
The Treasury’s Office of Foreign Assets Control issued a frequently asked question to address Congress’ inclusion of sanctions on the Nord Stream 2 pipeline in the 2020 National Defense Authorization Act (see 1912190075), according to a Dec. 20 notice. In…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
FAQ 815, OFAC clarified the wind-down provisions in the NDAA, which specify that all parties involved in selling, leasing or providing vessels for Nord Stream 2 or Turkstream must “immediately cease construction-related activity.” But OFAC said it may extend “good-faith wind-down exceptions” to certain parties for the safety of the pipeline, the crews and to avoid environmental damage.