US gives companies 30 days to avoid Nord Stream 2 sanctions

 The US will sanction any company involved in construction of Nord Stream 2 gas pipeline if its operations on the pipeline are not wound down within 30 days, the US State Department said, S&P Global reports.

In a fact sheet, State's Bureau of Energy Resources said the US "will impose sanctions unless related parties immediately demonstrate good faith efforts to wind-down."

"Related parties need to finish wind-down within 30 days," the fact sheet states. "Any company involved in Nord Stream 2 needs to look carefully at what that means for their operations."

The fact sheet was issued a week after US President Donald Trump signed the National Defense Authorization Act into law. The NDAA is a defense spending bill which calls for the US State and Treasury departments to submit a report within 60 days that identifies "vessels that engaged in pipe-laying at depths of 100 feet or more below sea level for the construction of the Nord Stream 2 pipeline project, the TurkStream pipeline project or any project that is a successor to either such project."

Friday's fact sheet said that report will be completed "expeditiously."

"The United States' intention is to stop construction of Nord Stream 2," the fact sheet said.