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Senators to announce sanctions bill on Russia's Nord Stream 2 gas pipeline

REUTERS/Maxim Shemetov /File Photo

U.S. senators will announce a bill this week expanding sanctions on Russia’s Gazprom-led Nord Stream 2 project, Senate aides said, targeting a pipeline Washington says will make Europe too reliant on Russian gas.

The Protecting Europe’s Energy Security Clarification Act follows legislation signed by President Donald Trump last year, which prompted Swiss-Dutch company Allseas to halt undersea work.

Two Russian-owned pipe-laying vessels may now be used to finish the remaining 100 miles (160 km) of the project, led by state-run Gazprom.

The new legislation, spearheaded by Senators Ted Cruz, a Republican, and Jeanne Shaheen, a Democrat, would expand sanctions to include penalties on parties involved in pipe-laying activities, not just laying pipes, and parties providing underwriting services, insurance or reinsurance for vessels.

4 June 2020

News Source Reuters

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