Ukraine will get US$30 mln for energy security under new Russia sanctions package

"The legislative act provides for the creation of a 'Countering Russian Influence Fund' and allocates $250 million for its budget in the 2018-2019 financial years. Some $30 million will be allocated for the implementation of initiatives to support Ukraine's energy security," the Ukrainian Embassy in the United States said in a statement on Wednesday, TSN.ua said.

The United States has also undertaken to "to assist in promoting reform in regulatory oversight and operations in Ukraine's energy sector, including the establishment and empowerment of an independent regulatory organization; to encourage and support fair competition, market liberalization, and reliability in Ukraine's energy sector; to help Ukraine and United States allies and partners in Europe reduce their dependence on Russian energy resources, especially natural gas, which the Government of the Russian Federation uses as a weapon to coerce, intimidate, and influence other countries."

The United States will also "continue to oppose the Nord Stream 2 pipeline given its detrimental impacts on the European Union's energy security, gas market development in Central and Eastern Europe, and energy reforms in Ukraine," the Act said.

Read alsoReuters: Siemens sees EUR 100-200 mln revenue loss in Russia over Crimea turbines affairIn addition, the Act says that "it is the policy of the United States to support the Government of Ukraine in restoring its sovereign and territorial integrity; to condemn and oppose all of the destabilizing efforts by the Government of the Russian Federation in Ukraine in violation of its obligations and international commitments; to never recognize the illegal annexation of Crimea by the Government of the Russian Federation or the separation of any portion of Ukrainian territory through the use of military force."

The document provides for the possibility of imposing sanctions against state-owned enterprises of the Russian Federation, which carry out operations in the metallurgical and mining industries, in railway transport. It also shores up anti-Russian sectoral sanctions against the financial sector of Russia and the Russian energy sector and provides for the imposition of sanctions in connection with the activities of the Russian government in the direction of undermining cyber security; in respect of persons who are responsible for human rights violations in the territory occupied by the Russian Federation, act in the interests of the defense and intelligence sectors of the Russian government, contributed significantly to Russia's ability to privatize state assets, as well as to foreign individuals and legal entities, which contributed to the strengthening defense capabilities of the government of Syria.

Read alsoJuncker: New U.S. sanctions on Russia only after consultation with alliesWhat is more, the law authorizes the U.S. president, in coordination with the United States allies, to impose sanctions against individuals and legal entities that promote the development and servicing of Russian export oil and gas pipelines.

Earlier this law was approved by the overwhelming majority of the House of Representatives of the U.S. Congress (419 votes in favor, three against, 12 did not vote) and the U.S. Senate (98 for, two against).