Bloomberg: US is preparing new sanctions against Nord Stream 2

Bloomberg: US is preparing new sanctions against Nord Stream 2

According to Bloomberg News, the United States is preparing new sanctions against the construction of the Nord Stream 2 gas pipeline.

The agency said negotiators representing the House of Representatives and Senate agreed to take action against the insurers and technical certification companies involved in the project. The corresponding provision is proposed to be included in the annual defense bill, which should be adopted by the end of the year.

The move will strengthen the liability measures that put the gas pipeline project under the Baltic Sea on hold several weeks before its expected completion.

By creating a threat of sanctions for insurance and certification companies, the United States will make it difficult for Gazprom to complete the 2,460 kilometers long Nord Stream 2, which runs along the existing branch of Nord Stream, Bloomberg reported.

The Danish government has required Det Norske Veritas, a provider of such services, to certify the pipeline’s compliance with current requirements before it is put into operation. This was announced by a senior analyst at the Moscow-based firm Sova Capital Mitch Jennings.

“As far as I understand, if the certification of the pipeline is limited, it can be very difficult to start it up,” he said. The new sanctions “may require Nord Stream 2 AG to find a certification agency ready to face sanctions.”

The measures proposed by American lawmakers do not affect the officials of the German government who gave permission for the project.

A leading Democrat on the Senate Foreign Relations Committee, Bob Menendez, told Bloomberg that members of Congress want to “make it clear that Germany, as an ally, and German public officials will not be subject to any such sanctions.”

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