U.S. Congress publishes list of sanctions over provision of vessels for Nord Stream 2 construction

REUTERS The United States Congress has published a bill to impose sanctions with respect to the provision of certain vessels for the construction of Russian energy export pipelines, including Nord Stream2, and for other purposes. The sanctions package was introduced by Senators Ted Cruz, John Barrasso, Tom Cotton, and Jeanne Shaheen, the Ukrainian TSN news service reported, referring to the published document. Read alsoConstruction of Nord Stream 2 may be delayed: media The restrictions will primarily affect external companies that provide their specialized vessels for laying Nord Stream 2 pipeline in the Baltic Sea. In particular, this refers to vessels that engaged in pipe-laying at depths of 100 feet or more below sea level. U.S. lawmakers also propose imposing restrictions against individuals and legal entities that "knowingly" provide underwriting services or insurance or reinsurance for such vessels. The U.S. president may impose five or more of the sanctions, including refusal of providing loans or insurance, refusal to issue any specific license or permission to export any goods or technology from the U.S., prohibition to U.S. banks from issuing loans or credits during the year, prohibition on working with U.S. public debt, ban on transactions in foreign exchange and property transactions in the U.S., as well as ban on capital investments. Moreover, the United States has the right not to enter into contracts for the purchase of goods or services of a foreign person. CEOs and shareholders with a controlling stake in such companies may be denied a visa to the United States or an entry ban may be imposed on them. Earlier, on March 12, the European Parliament adopted a new report on political relations between the European Union and Russia, calling for the construction of Nord Stream 2 to be stopped and be ready to introduce new sanctions. "Nord Stream 2 reinforces the EU&#39;s dependence on Russian gas supplies, threatens the EU internal market and is not in line with EU energy policy or its strategic interests, and therefore needs to be stopped," the report said. In February, Russians threatened European countries with gas difficulties if they blocked the Nord Stream 2 construction.

U.S. Congress publishes list of sanctions over provision of vessels for Nord Stream 2 construction

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