Sunday, December 1, 2019

Can US sanctions still stop Nord Stream 2?

According to sources of german newspaper Bild, the US Senate plans sanctions against companies participating in or are involved in the construction of the Nord Stream 2 pipeline.
Primarily this would affect swiss company Allseas that is specialised in submarine pipelaying and deep-sea-cable-laying.
But also german energy groups like Uniper
Those companies would be excluded from the US market if they persist in their activity for Nord Stream 2 and should the sanctions effectively be voted.

Interestingly, the sanctions might be voted as part of the National Defense Authorization Act.

The US Congress takes the view that Nord Stream 2 increases the dependency of Germany and Europe from russian gas, that it jeopardises ukrainian security interests and drives a wedge between  E.U.-member states. The EU Commission and most member states oppose the construction of the highly controversial pipeline. Only Germany and Austria are staunch supporters of the project.

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