Sunday, September 27, 2020
Home Oil & Gas US Secretary Pompeo announces additional sanctions against Nord Stream 2

US Secretary Pompeo announces additional sanctions against Nord Stream 2

Ukraine’s oil and gas company Naftogaz welcomed US Secretary of State Mike Pompeo’s announcement that the United States will allow additional sanctions against Nord Stream 2 and the second line of Turk Stream.

According to Secretary Pompeo, the correction to the Countering America’s Adversaries Through Sanctions Act (CAATSA), “puts investments or other activities that are related to these Russian energy export pipelines at risk of US sanctions.”

The announcement follows Denmark’s permission to the Nord Stream 2 operator to use pipe-laying vessels with anchors for the remaining part of the pipelines to be constructed in the country.

“It’s a clear warning to companies aiding and abetting Russia’s malign influence projects will not be tolerated,” Mr Pompeo said. “These aren’t commercial projects. They are [the] Kremlin’s key tools to exploit and expand European dependence on Russian energy supplies, tools that undermine Ukraine by cutting off gas transiting that critical democracy, a tool that ultimately undermines transatlantic security.”

The State Department’s announcement specifies that “persons making such investments or engaging in such activities [with respect to Nord Stream 2 and Turk Stream], including but not limited to financing partners, as well as pipe-laying vessels and related engineering service providers engaging in the deployment of the pipelines, may be subject to sanctions pursuant to Section 232.”

This decision shows the unwavering commitment of the United States to Ukrainian and European security. Earlier in June, a group of US Senators had filed a new, bipartisan US sanctions legislation, called the Protecting Europe’s Energy Security Clarification Act, in order to make it impossible to complete the controversial pipeline. Such legislation followed last year’s passage of the Protecting Europe’s Energy Security Act (PEESA) as part of the annual US defence budget bill, which imposed sanctions on the use of deep-sea pipe-laying vessels to build Nord Stream 2.

Naftogaz said it will continue to work closely with American and European partners to prevent Nord Stream 2 and safeguard the collective interests of the transatlantic community.

Most Popular

Kosovo to expand its wind capacity with 57.5 mln euros EBRD loan

Kosovo, a country heavily reliant on coal, took a major step towards the decarbonisation of its electricity sector with the help of a 57.5 mln euros loan from the EBRD to finance the construction of a 105 MW wind farm.

PGNiG Upstream Norway acquires two new fields in the North Sea

PGNiG Upstream Norway signed an agreement with Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North Sea. The gas produced will be sent to Poland after the Baltic Pipe link is launched.

Antje Kanngiesser appointed new CEO of the Alpiq Group

Antje Kanngiesser has been appointed as the new CEO of the Alpiq Group, the leading Swiss electricity producer.

Taking account of social and environmental impacts ahead of the World Tourism Day

Tourism has been among the hardest hit of all sectors by the COVID-19. On this World Tourism Day, the pandemic represents an opportunity to rethink the future of the tourism sector, including how it contributes to the sustainable development goals.