The US May Place New Sanctions on Nord Stream 2

A U.S. source with knowledge of diplomatic affairs has told the German newspaper Handelsblatt that the U.S. is ready to place new sanctions over the construction of the Nord Stream 2 pipeline, a pipeline that would funnel gas to Europe from Russia, bypassing Ukraine.

“If Russia attempts to complete construction on the pipeline in the Baltic Sea, then the House of Representatives and the Senate will be ready to pass a new sanctions law,” said the source, according to Handelsblatt.

These new sanctions could possibly apply not only to the companies involved in the pipeline’s construction, but also to Nord Stream 2 investors, such as large European energy companies. While the Nord Stream 2 project is completely owned by Russia, energy companies from Germany, France, and Austria have invested in the enterprise.

READ MORE: Denmark Gives Green Light to Nord Stream 2 Construction

Handelsblatt added that passing a new sanctions law against the pipeline could pass quickly, in February or March.

Prior U.S. sanctions have successfully halted construction on the pipeline, with the Allseas company announcing on December 21, 2019, that it was ceasing work on Nord Stream 2. Russia has announced that it is ready to complete construction on its own. An additional 2 months in Danish waters would be required to complete the project.

READ MORE: Can Nord Stream II Play By The New Rules?