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1. It shall be prohibited to engage, directly or indirectly, in any transaction in connection with the natural gas pipelines Nord Stream and Nord Stream 2, with regard to the completion, operation, maintenance or use of the pipelines. In addition, it shall be prohibited to engage, directly or indirectly, in any transaction in connection with the financing concerning the completion, operation or use of the pipelines.

2. The prohibitions in paragraph 1 shall not apply to transactions that are strictly necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety, maritime shipping or the environment or as a response to natural disasters.

3. By way of derogation from paragraph 1, the competent authorities may authorise transactions that are strictly necessary:

(a) for the wind-down or restructuring of a legal person, entity or body in connection with the natural gas pipelines Nord Stream and Nord Stream 2 where this is necessary to ensure that the natural gas pipelines Nord Stream and Nord Stream 2 will not be used;

(b) to claim compensation, recoveries or any other means, from any natural or legal person, entity or body in connection with the natural gas pipelines Nord Stream and Nord Stream 2;

(c) to effect and receive payments or recoveries that are due or become due under, or in connection with, court orders, financings, insurance, warrants or any other contracts or agreements in connection with the natural gas pipelines Nord Stream and Nord Stream 2 that were entered into before 20 July 2025;

(d) for a settlement, or judicial or arbitration proceedings in connection with the natural gas pipelines Nord Stream and Nord Stream 2;

(e) for regular maintenance services which are strictly necessary to prevent environmental and safety risks or a negative impact on the fisheries sector.

Before issuing such an authorisation, the competent authorities shall provide the Commission with a draft thereof. Within 30 days of receipt of that draft, the Commission may issue an opinion to the competent authorities stating that the envisaged transaction would be prejudicial to the Union’s interests. The Commission shall inform the Council of such an opinion.

4. Operators shall inform the competent authority of the Member State where they are incorporated or under whose law they are constituted of any transaction concluded pursuant to paragraph 2 within two weeks of its conclusion. The Member State concerned shall inform the other Member States and the Commission of any information received pursuant to this paragraph within two weeks of its receipt.

5. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted pursuant to paragraph 3 within two weeks of the authorisation.