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New Ukraine-/Russia related FAQ
OFAC has issued a new Ukraine-/Russia-related FAQ concerning implementation of section 7503(d) of the National Defense Authorization Act of 2020, also known as the Protecting Europe's Energy Security Act of 2019. "Parties that have knowingly sold, leased, or provided vessels that are engaged in pipe laying at depths of 100 feet or more below sea level for the construction of Nord Stream 2 or Turkstream must ensure that such vessels immediately cease construction-related activity. Notwithstanding the above, good-faith wind-down exceptions may be made for the safety of the pipeline or safety and care of the crew aboard the vessel, the protection of human life, or maintenance to avoid any environmental or other significant damage, as further described in Section 7503(e)."