Contents tagged with Gazprom
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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 …
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Gazprom accuses the U.S. of trying to oust Russia from EU gas market
Threats of sanctions from Washington against the Nord Stream 2 project are nothing more than attempts to oust Russia out of the European gas market usig non-market instruments, stated the head of Gazprom Export (Gazprom's subsidiary) Elena Burmistrova, speaking at the Flame online conference.
"Unfortunately, there is an additional threat that is increasingly affecting our cooperation - a political confrontation in general and, in particular, the threat of U.S. sanctions against Nord Stream 2," …
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German Uniper admits failure of Nord Stream 2
Construction of the Nord Stream 2 pipeline, halted by U.S. sanctions, may no longer resume, and investments in the 10-billion-euro project may have to be completely written off, according to the IFRS report for the first half of 2020 by the German concern Uniper - one of the five European partners of Gazprom, which financed half of the cost of the project.
"Given the new U.S. sanctions, there is an increased risk that construction will be frozen or completely halted," the report said.
The …
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Poland fines Gazprom for violating antitrust law
The Polish Office of Competition and Consumer Protection UOKiK (Urz'd Ochrony Konkurencji i Konsument) has fined Russian gas giant Gazprom 213 million zlotys, which is equivalent to $50 million USD.
The reason for imposing such a large fine was Gazprom's refusal to provide UOKiK with the data on contracts concluded by its subsidiary Nord Stream 2 with European companies financing the construction of the Nord Stream-2 gas pipeline. In November 2019, the French company Engie was fined 172 …
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U.S. Senate approves new sanctions against Nord Stream 2 pipeline
The U.S. Senate has approved the draft National Defense Authorization Act for fiscal year 2021, which includes new sanctions against the Nord Stream-2 pipeline.
The document, which was approved by the House of Representatives earlier this week, received 86 votes in favor and only 14 against.
The $740.5 billion Defense Budget contains a provision for tightening sanctions against the Nord Stream 2 project, which has been under sanctions since December last year, effectively halting its …
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Lukashenko: $640 million laundered through Gazprom Bank in Belarus
The Russian authorities understand the reasons for the situation with the Belgazprombank case and the arrest of its former head Viktor Babariko, said President of Belarus Alexander Lukashenko during a meeting with the government in the Minsk region.
"On June 24 (during my visit to Moscow), I noticed that when we ctracked down on this gas industry bank, they understood everything," said Lukashenko, whose speech was broadcast by the Belarus-1 TV channel.
According to Lukashenko, the Belarusian …
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U.S. Congress introduces draft bill with new sanctions against Nord Stream 2
Members of the U.S. House of Representatives have introduced a bill on additional sanctions against the Nord Stream 2 pipeline. The document entitled "Protecting Europe's Energy Security Clarification Act of 2020" accompanies a similar bill prepared in early June in the U.S. Senate.
Nine congressmen, six Republicans and three Democrats - have drafted and supported the new project. The introduction of a parallel bill usually means that senators and members of the House of Representatives who …
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Lukashenko orders Belarusian companies to close accounts in Russian banks
The Belarusian authorities ordered state-owned companies to stop using bank accounts and withdraw money from all Russian banks except state-owned ones, reported Belarusian news outlets Naviny.by and TUT.by, citing sources in financial industry.
The order of the Belarusian government concerns the banks with Russian capital, one of the bankers said. This includes the subsidiaries of Sberbank and VEB (BPS-Sberbank and BelVEB), which have traditionally been actively working with Belarusian state- …
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Belarus accuses Russian high-ranking officials of fraud
Gazprom's top managers, as well as possibly high-ranking representatives of the Russian establishment, are involved in illegal activities in Belgazprombank, stated the head of the Committee of State Control (KGC) of Belarus Ivan Tertel.
On June 14, several top managers of the bank, which is 99.6% owned by Gazprom and Gazprombank, were detained on charges of tax evasion, credit fraud and creating a criminal group to withdraw funds abroad.
On Thursday, June 18, the Belarusian security forces …
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Gazprom classifies gas supplies to DPR and LPR
Gazprom has stopped disclosing the volume of gas supplies to the the so-called Donetsk and Luhansk People's Republics.
At the end of the first quarter, the company’s reported zero gas supplies to Ukraine, which, for more than 5 years, has been used to reflect supplies to LPR and DPR.
Gazprom's previous position was that the republics are part of Ukraine, and the Ukrainian national gas corporation Naftogaz should pay for these supplies. Moscow officially called 12 billion cubic meters …