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US widens Nord Stream 2 pipeline sanctions
Journal Staff Report

WASHINGTON, Oct 20 - The US State Department Tuesday widened the scope of sanctions against the Nord Stream 2 natural gas pipeline and warned companies involved they face sanctions if they do not wind down activities within 30 days, S&P Global reported.

Ukraine has been repeatedly asking the European Union to impose sanctions against Nord Stream 2, which it believes is aimed at undermining the Ukrainian economy and increasing Europe’s dependence on Russian gas. A little over 150 km of the pipeline remains to be laid in Danish and German waters.

"The Department of State and the Department of the Treasury are prepared to use the full range of sanctions authorities to halt construction of these pipelines," the State Department said.

The new guidance expands on the State Department's interpretation of Congress' Protecting Europe's Energy Security Act of 2019, which targets vessels laying pipe at least 100 feet below sea level for Nord Stream 2, TurkStream pipeline or any successor project.

The guidance says the US will not impose sanctions on those who violate the law's "if those persons immediately engage in, and complete within 30 days, a good-faith wind down of such activities upon the issuance of this clarification."

Kevin Book, managing director of ClearView Energy Partners, said that while the latest guidance could potentially lead to mandatory sanctions against Gazprom or other key subsidiaries under the PEESA law, "we believe the Trump administration could use PEESA's waiver authorities to stand down from a direct confrontation," according to S&P Global report.

Book said the latest State Department action may have been spurred by apparent retrofits of the Russian pipe-laying vessel Akademik Cherskiy that would enable it to complete Nord Stream 2 construction without support from other ships.

"This mid-sea upgrading appears to reflect an unwillingness of German entities to risk US sanctions by facilitating the retrofits," he said.

The action comes after Germany's foreign minister gave a new boost to the Nord Stream 2 project, saying in an Oct. 17 interview that he "assumes" the project will be completed. (sp/ez)




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