US Congress releases bill on Nord Stream 2 sanctions
The US Congress released a bill on the sanctions against individuals and legal entities involved in the construction of the Nord Stream 2 gas pipeline.
It proposes to impose sanctions against companies that use their vessels to lay pipeline at a depth of 100 feet below sea level. Sanctions may also apply to the vessel insurers.
According to the bill, the president of the United States may impose five or more types of sanctions against the targeted parties.
The bill stipulates, among other things, that visas will not be issued to directors and shareholders with controlling stakes in the companies on the sanctions list. Furthermore, a ban will be imposed on payments and real estate transactions in the US jurisdiction, as well as on capital investments. In addition, a ban on the export of goods and technologies to the sanctioned companies may be introduced.
Participants in the construction of Nord Stream 2 will also be banned from using US government contractors for goods and services.
US financial institutions may prohibit the issuance of loans totaling more than $ 10 million every 12 months.
The Nord Stream 2 gas pipeline would pass through the Baltic Sea, connecting suppliers from the Russian Federation with consumers in Europe. Its planned length will be more than 1.2 thousand km, throughput capacity - 55 billion cubic meters of gas per year. Gazprom started the project in alliance with European companies Engie, Uniper, OMV, Shell and Wintershall.