OFAC advises on wind down of Nord Stream 2 construction activities

OFAC has issued new guidance in FAQ 815 on the 30-day wind down period for Nord Stream 2 construction activities as provided for in Section 7503(d) of the National Defence Authorisation Act 2020 (NDAA). The Act imposed targeted sanctions on the pipeline, which came into effect on 20 December 2019 (post here). The FAQ specifies that “parties that have knowingly …