U.S. expands sanctions against Nord Stream 2
The U.S. Department of State has expanded sanctions against the Nord Stream 2 pipeline, which is intended to transport Russian gas to Germany.
Sanctions imposed late last year halted construction of the $10.5 billion pipeline. The sanctions affected the pipe-laying vessels for Nord Stream-2. To date, about 160 kilometers of pipeline on the bottom of the Baltic Sea remain to be laid to complete the project.
The updated Protecting Europe’s Energy Security Act (PEESA) expands these restrictive measures and establishes that sanctions will apply to companies providing services, facilities or financing for "modernization or installation of equipment" for ships that will work on the construction of Nord Stream 2.
It is noted that earlier Moscow and the Swiss-registered Russian gas pipeline operator company - Nord Stream 2 AG - were looking for ways to complete the project.
"We want to make sure that all parties are clear that they can be subject to our sanctions," said U.S. Assistant Secretary for the Bureau of Energy Resources Francis Fannon.
On October 7 , Poland’s Office of Competition and Consumer Protection (UOKiK) fined Russian Gazprom $7.6 billion and imposed $61 million in penalties on five companies financing Nord Stream-2 for the construction of the gas pipeline without Poland’s consent.
If the Russian monopoly does not pay a $7.6 billion fine under the UOKiK’s decision, the assets of Russian Gazprom may be seized.