CLIENT ALERT: OFAC ISSUES ADDITIONAL SANCTIONS ON NORD STREAM 2 PIPELINE
On November 22, 2021, the Office of Foreign Assets Control (OFAC) imposed sanctions on Transadria, Ltd., which is apparently based in Cyprus but said to be a “Russia-linked entity,” and one of its vessels, the Marlin, for their involvement in the construction of the Nord Stream 2 pipeline. The entity and its vessel were added to OFAC’s Specially Designated Nationals (SDN) list, which designates individuals, entities, and groups that have violated the sanctions laws of the United States. Another vessel, the Blue Ship, was reportedly cited by OFAC for its involvement in the pipeline’s construction, but ultimately was not sanctioned.
To read the full Client Alert, click HERE.