US Senators have suggested that the United States should be able to impose at least five types of sanctions on individuals or entities that insure or underwrite pipelaying ships engaged in the construction of Russian pipelines for energy exports below sea level, the senators’ bill has shown.
“The President may impose 5 or more of the sanctions… with respect to a foreign person if the President determines that the person knowingly, on or after the date of the enactment of this Act, provides underwriting services or insurance or reinsurance for a vessel”, the text of the bill said.
Moreover, the US government may refuse to conclude any contracts with the sanctioned individual or company. The US president may also ban the designated foreign person from carrying out property transactions within the country’s jurisdiction, among other restrictions.