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SEC. 1242. CLARIFICATION AND EXPANSION OF SANCTIONS RELATING TO CONSTRUCTION OF NORD STREAM 2 OR TURKSTREAM PIPELINE PROJECTS.
(a) In General.—Subsection (a)(1) of section 7503 of the Protecting Europe’s Energy Security Act of 2019 (title LXXV of Public Law 116–92; 133 Stat. 2300; 22 U.S.C. 9526 note) is amended—
(1) in subparagraph (A)—
(A) by inserting “or pipe-laying activities” after “pipe-laying”; and
(B) by striking “; and” and inserting a semicolon;
(2) in subparagraph (B)—
(A) in clause (i)—
(i) by inserting “, or facilitated selling, leasing, or providing,” after “provided”; and
(ii) by striking “; or” and inserting a semicolon;
(B) in clause (ii), by striking the period at the end and inserting a semicolon; and
(C) by adding at the end the following:
“(iii) provided for those vessels underwriting services or insurance or reinsurance necessary or essential for the completion of such a project;...
1) Sec. 1242 of the FY 2021 NDAA amends Sec. 7503 of the FY 2020 NDAA (“Protecting Europe's Energy Security Act of 2019”). For comments on PEESA, as amended, see Sec. 7503 of the NDAA for FY 2020 (PEESA), as amended by Sec. 1242 of the NDAA for FY 2021 (text incorporating amendments).
2) See Certification of Good Faith Wind Down Efforts and Wind-Down Explanation of Decision (PEESA) for certifications made pursuant to section 1242(f).