WASHINGTON (Reuters) – Any companies that rush to finish building a Russian natural gas export pipeline to Germany that came under U.S. sanctions this month risk being penalized, senior U.S. officials said on Sunday.
FILE PHOTO: Allseas’ deep sea pipe laying ship Solitaire lays pipes for Nord Stream 2 pipeline in the Baltic Sea September 13, 2019. REUTERS/Stine Jacobsen/File Photo
President Donald Trump signed a bill late this month imposing sanctions on the Nord Stream 2 gas pipeline project led by Gazprom (GAZP.MM), Russia’s state-controlled gas company. The project aims to send gas under the Baltic Sea, bypassing Ukraine and doubling the capacity of the existing line.
The threat of sanctions blocking access to the U.S. financial system forced Allseas, a Swiss-Dutch company that lays deep-sea pipe, to suspend work on the project. All but a 100-mile (160-km) stretch remains to be completed.
That short distance and a 30-day “wind-down” period