The U.S. Department of State has announced the re-imposition of sanctions on several entities involved in the Nord Stream 2 pipeline project, citing their participation in harmful foreign activities by the Russian government. These actions are authorized under Executive Order 14024.
The sanctions target entities previously sanctioned under the Protecting Europe’s Energy Security Act (PEESA), as well as new owners of vessels previously blocked under PEESA. The affected entities include Samara Heat and Energy Property Fund, Joint Stock Company Nobility, Limited Liability Company Koksokhimtrans, Joint Stock Company Ardal, Limited Liability Company Farvater, KVT RUS, Limited Liability Company Mortransservice, and Federal State Budgetary Institution Marine Rescue Service.
Several vessels have been identified as properties of interest related to these entities. For instance, Akademik Cherskiy is associated with Samara; Ivan Sidorenko and Ostap Sheremeta with Nobility; Antey and Hermes with Ardal; Lamantin with Farvater; Fiona with KVT RUS; and ten vessels including Artemis Offshore and Bakhtemir with Marine Rescue Service.
Additionally, OBSHCHESTVO S OGRANICHENNOI OTVETSTVENNOSTYU MTV (OOO MTV) is designated for operating in Russia's technology sector. Matthias Warnig, founder of OOO MTV and former CEO of Nord Stream 2 AG, is also designated.
Nord Stream 2 AG itself is sanctioned for its connection to the Russian government. Limited Liability Company RNCB Insurance faces sanctions for providing insurance to companies involved in the Nord Stream 2 project.
As a result of these actions under E.O. 14024, all property and interests in property within U.S. jurisdiction linked to these sanctioned persons are blocked. Transactions involving these individuals or entities are prohibited unless specifically licensed by the Office of Foreign Assets Control (OFAC).
"The power and integrity of U.S. government sanctions derive not only from the U.S. government’s ability to designate and add persons to the SDN List but also from its willingness to remove persons from the SDN List consistent with the law," stated an official source.
Petitions for removal from the Specially Designated Nationals List can be submitted via email to OFAC.Reconsideration@treasury.gov or through guidance provided on the Department of State’s Delisting Guidance page.
