US SANCTIONS IN RESPECT OF NORD STREAM 2/TURK STREAM GAS PROJECTS

On 1 August, Hellenic Shipping News carried an article about US sanctions targeting at limiting Russia’s influence over Europe’s energy requirements, in particular the development of the Nord Stream 2 pipeline between Russia and Germany via the Baltic Sea, and the Turk Stream pipeline connecting Russia with Turkey via the Black Sea. Sanctions include those which target the provision of cable-laying and other ships used in such projects, and a number of related services which could include the provision of P+I insurance. In recent weeks, it is said, the scope of those sanctions has been widened, and the article reviews these developments. The P+I Club involved says that its members should carefully consider whether any of their vessels entered in the Club are or may be involved in activities which are or could be subject to these US sanctions, and if so, to consult their usual Club/Underwriting contacts as soon as possible.

https://www.hellenicshippingnews.com/us-sanctions-in-respect-of-nord-stream-2-turk-stream-gas-projects/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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