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Firms involved in Russian Nord Stream 2 face risk of US sanctions - Mr Fannon

Gasoil News - Published on Thu, 13 Dec 2018

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Sputnik reported that companies that work in Russia's energy pipeline sector are risking US sanctions, and Washington is considering possible actions against the Nord Stream-2 project, Assistant Secretary of State for Energy Resources Mr Francis Fannon told reporters. Mr Fannon said that “The firms working in Russian energy pipeline sector are engaging a lot of business that carries sanctions risk. We continue to review potential sanctions actions. The US government has the ability to sanction Russia export energy pipelines under section 232 the Countering America’s Adversaries Through Sanctions Act (CAATSA),”

The statement follows Fannon's comment made that Washington believes that the construction of the pipeline poses "broad geostrategic threats" to European security and called on all parties to withdraw from it.

Russia's Permanent Representative to the European Union Vladimir Chizhov said last week that the Nord Stream 2 gas pipeline project is developing and there are no obstacles to its implementation.

Nord Stream 2 pipeline construction underway in Finnish waters in the Baltic Sea.

Meanwhile, the Nord Stream 2 is a joint venture of Russia’s Gazprom with France's Engie, Austria’s OMV AG, UK-Dutch Royal Dutch Shell, and Germany's Uniper and Wintershall. It aims to deliver 55 billion cubic meters (some 2 trillion cubic feet) of Russian natural gas per year to the European Union through the Baltic Sea bypassing Ukraine.

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Posted By : Nanda Koijam on Thu, 13 Dec 2018
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