The U.S. government is gearing up to impose sanctions on companies involved in the construction of Nord Stream-2, a pipeline that will bring Russian natural gas to Germany. But the restrictions are likely to have a limited impact, CNBC reported on December 18.
The U.S. Senate passed a defense bill that included provisions for the sanctions regime earlier this week. President Donald Trump is expected to sign the law, under which Washington may impose penalties on companies that are laying pipes on the bed of the Baltic Sea for Nord Stream-2, within the next few days.
U.S. authorities do not likely have many opportunities to impose such penalties. The majority of the pipeline is already finished, and only a few specialized marine service providers are scheduled to lay more pipe prior to the launch of Nord Stream-2 in mid-2020.
The sanctions legislation has drawn heavy criticism from the Russian government, which is the main shareholder in Gazprom, the company leading work on Nord Stream-2. Germany has also panned the U.S. plan, with Foreign Minister Heiko Maas saying: “European energy policy must be decided in Europe, not the U.S.”