US Sanctions on Nord Stream 2 Coming
United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting onerous restrictions on companies involved in the Nord Stream 2 project would come in the “not too distant future”.
The Nord Stream 2 gas pipeline project has come under fire from the United States and several eastern European, Nordic and Baltic Sea countries which fear it will increase the European Union’s reliance on Russian gas, Reuters reported.
“The opposition to Nord Stream 2 is still very much alive and well in the United States,” Perry told a briefing on a visit to Kiev for the inauguration of President Volodymyr Zelenskiy.
“The US Senate is going to pass a bill, the House is going to approve it, and it is going to go to the president and he is going to sign it that is going to put sanctions on Nord Stream 2.”
The Russia-led Nord Stream 2 consortium announced in 2018 that it applied to Denmark for an alternative gas pipeline route through the Baltic Sea that would avoid the Nordic state’s territorial waters.
Denmark is facing a dilemma on whether the project can be built near its Baltic coast and its parliament may pass legislation, allowing it to veto the Nord Stream 2 pipeline going through Danish territorial waters on security grounds.
Russia is keen to press ahead with the Nord Stream 2 pipeline since it has the potential to double its gas exports under the Baltic Sea to Germany, bypassing traditional routes through Ukraine with which it has poor relations.
The Danish government has come under fierce lobbying by Russia, EU allies and the US over the €9.5 billion (£8.5 billion) Nord Stream 2 project led by Gazprom and financed by five western firms.
source: Financial Tribune
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Gold loses some luster after Trump’s decisive win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
BHP to spend up to $14 billion on Chilean copper expansion
Trump chooses oil fracking boss as energy secretary
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project