JRL NEWSWATCH: “U.S. Broadens Sanctions to Thwart Completion of Russian Gas Pipeline” – Wall Street Journal/ Brett Forrest

State Department Building and U.S. Flag

“New measures target companies that would provide services or funding for vessels working on Nord Stream 2”

“… [2019] U.S. Sanctions … focused on pipe-laying vessels for Nord Stream 2 and halted the $10.5 billion [natural gas] pipeline[,] … designed to transmit Russian gas to Germany, 100 miles short … beneath the Baltic Sea. … [A] State Department [web announcement] … Tuesday … Gas Flame file photosay[s] sanctions would apply to companies providing services, facilities or funding for ‘upgrades or installation of equipment’ for vessels that would work on Nord Stream 2. U.S. officials are concerned that the pipeline will increase Russia’s leverage in Europe and allow it to bypass … Ukraine * * * …. Moscow and … Swiss-registered, Russian-owned … Nord Stream 2 AG, [building the pipeline,] have looked for ways to complete [it]. … [But leading maritime insurance and indemnity group] the International Group of Protection and Indemnity Clubs[] announced that due to the U.S. sanctions threat, ‘there will be no club cover for any activity involving or related to’ Nord Stream 2. … [The Tuesday announcement said] State and Treasury are prepared to ‘use the full range of sanctions authorities to halt construction.’ More sanctions are expected … in the [later] defense spending authorization bill ….”

Click here for: “U.S. Broadens Sanctions to Thwart Completion of Russian Gas Pipeline; New measures target companies that would provide services or funding for vessels working on Nord Stream 2” – Wall Street Journal/ Brett Forrest

 

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