Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. Republicans renew push to sanction Nord Stream 2 pipeline

Published 11/08/2021, 07:24 PM
Updated 11/08/2021, 07:26 PM
© Reuters. FILE PHOTO: The logo of the Nord Stream 2 gas pipeline project is seen on a large diameter pipe at Chelyabinsk Pipe Rolling Plant owned by ChelPipe Group in Chelyabinsk, Russia February 26, 2020.  REUTERS/Maxim Shemetov

WASHINGTON (Reuters) - A group of U.S. Senate Republicans said on Monday they had introduced legislation that would impose mandatory sanctions on Nord Stream 2, a Russian-backed natural gas pipeline that opponents believe would be harmful to U.S. allies in Europe.

The six lawmakers, led by Senator Jim Risch, the top Republican on the Senate Foreign Relations Committee, offered the measure as an amendment to the National Defense Authorization Act, or NDAA, a sweeping defense policy bill that is one of the few pieces of major legislation Congress passes every year.

President Joe Biden and German Chancellor Angela Merkel earlier this year reached an agreement that allows the pipeline that will take Russian gas to Germany to proceed.

Ukraine has long opposed the nearly completed $11 billion project because it will give Moscow the theoretical option to stop routing gas via Ukraine, which would deprive Kyiv of billions of dollars in lucrative transit fees and, it says, imperil its security.

Russia's state energy company, Gazprom (MCX:GAZP), and its Western partners have raced to finish the pipeline to send natural gas under the Baltic Sea.

Latest comments

this is about German energy policy. It's a mistake, and Germany will probably pay a hefty politcal price for getting involved with the thugs in the Kremlin. But it is a Germany's decision to make. not America's.
The gas line is between russia and Germany. ITS a RUSSIAN and GERMAN ISSUE! Ukrainians are just pissed because it cuts them out of being the middle man. It imperials security my arse! Its the free market system. If Germans want a a pipeline to buy gas from Russia and pump it to Germany by means of a direct gas line that does not go through another country as the middle man. SO WHAT!This is absolutely BS. The republicans and Ukrainians want to force Germans and Russians to use a Ukrainian gas line to bring gas into germany.Sounds like some commie stuff to do. Not letting the one with the Capital to determine what and how to buy in a free market. Instead american republicans and Ukrainians want to plan the natural gas economy, they want a communist based Command economy!
Wait, I thought it was Biden and the Dems who disliked Putin and Russia so much. Didn’t Biden even promise to retaliate for the hacks? How did Putin get Biden and the Dems to submit?
Its the capitalist thing to do buddy. Why continue to pay to use Ukraine gas lines. When they can pump it from point A to point B directly? Its faster and cheaper more direct route that cuts out a needless middleman.American republicans like to tout they are champions of capitalism, but demanding the Germans continue to PAY MORE to ship natural gas and who to use to do it. You can't get more close to a communist command market then what the republicans and Ukrainians want the germans and Russians to do.
American republicans are facist. The nazis left europe in the late 40s for America and there they eventually joined the republican party. Everyone knows that.
The group of U.S. Senate Republicans is seeking a nuke war with Russia or cornering Biden into stepping down. I see no good will in them
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.