Today, President Biden announced new U.S. sanctions on Nord Stream 2 AG and its corporate officers, including its German CEO, Matthias Warnig. Nord Stream 2 AG is a Swiss company owned by Gazprom, the Russian gas giant, and is responsible for the planning, construction, and operation of the pipeline. The sanctions prohibit U.S. companies from
Nord Stream 2
U.S. Warns that Nord Stream 2 and second line of TurkStream are now in scope for U.S. secondary sanctions
By Kelley Drye on
Posted in Export Controls and Sanctions
Today the U.S. State Department published updated guidance indicating that significant transactions related to Nord Stream 2 and the second line of TukStream may be subject to U.S. secondary sanctions penalties under Section 232 of CAATSA.
Section 232 authorizes the U.S. government to impose a bevy of sanctions on non-U.S. parties that make investments in…