US Senate Committee Backs NS2 Sanctions

The US foreign relations committee voted July 31 to back US sanctions against companies and individuals involved in building the Nord Stream 2 gas pipeline between Russia and Germany.

The bill – Protecting Europe’s Energy Security Act – passed the committee by a vote of 20-2 and will now go to the full Senate and to the House of Representatives before landing on the desk of president Donald Trump for ratification or veto.

Nord Stream 2, which is all but completed, is led by Gazprom, Russia’s state-owned gas company. Half of its funding, however, comes from German Uniper and Wintershall, Anglo-Dutch major Shell, Austria’s OMV and French Engie. All would be subject to sanctions if the bill becomes law.

By its wording – which provides for sanctions against any Russian export pipeline at depths greater than 30 metres below sea level – the bill could also apply to the TurkStream project, which would deliver Russian gas to Turkey.