Secondary Sanctions Enforcement Announcement - Sanctioning NS2AG, Matthias Warnig, and NS2AG’s Corporate Officers (State Dep't); Statement by President Biden on Nord Stream 2 (Feb. 23, 2022)

Date issued: Feb. 23 2022

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TURBOFAC Commentary (250 words)

Notes:

1) On 2-23-2022, the USG sanctioned the Swiss entity "Nord Stream 2 AG (NS2AG), its CEO Matthias Warnig, and NS2AG’s corporate officers." See Secondary Sanctions Enforcement Announcement - Nord Stream 2 and European Energy Security (in re: the previously applicable waiver).

This item is in the Research System due to its significance, but we do not consider it to constitute a "true" secondary sanctions enforcement action, according to the criteria set out in Introductory Note Common to all Derivative Designation Notices Included in the Research System. Of note, NS2AG is majority-owned by a Russian sanctions target. In addition, Matthias Warnig--who is a German citizen but also considered a longtime ally of Vladimir Putin [1]--was "knowingly facilitated deceptive or structured transactions" in relation to the pipeline. In other words, the designations do not constitute...