US threatens Swiss company with sanctions because of the Nord Stream 2

The Swiss company Allseas may be hit by US sanction if it continues to participate in the construction of the Nord Stream 2 gas pipeline. US Republican Senators Ted Cruz and Ron Johnson warned the company. This was reported by BusinessCensor with reference to DW.

“We understand that the Russian government pays Allseas a significant amount to complete the construction of the pipeline. However, if the company continues to operate “at least one day” after the signing of the US sanctions law, Allseas may face “potentially devastating legal and economic sanctions”, the senators’ letter to Allseas CEO Edward Heerema said.

The law “On the Protection of Europe’s Energy Security” spells out penalties aimed at ship operators, through which pipes for the Nord Stream 2 pipeline are laid across the Baltic Sea.

In a letter, the senators cite the fact that Allseas uses at least one ship to lay such pipes. Politicians say that anyone who provides their vessels for laying pipes for the Nord Stream 2 will be sanctioned. In particular, they will be banned from entering the United States, and any property located in the country will be frozen. This could affect Allseas assets in Texas, as well as company ships that sail in US territorial waters.

“If you try to complete the pipeline within the next 30 days, you will destroy its shareholder value and destroy the future viability of your company”, the letter said.

Recall, the US Senate supported the draft law, which provides for sanctions against companies that lay pipes for the construction of the Nord Stream 2, or help to do this.

Earlier it was reported that President Vladimir Putin said that Russia wanted to preserve gas transit through Ukraine, despite the construction of new infrastructure facilities.

Tags: Gazprom, gas, contracts, Nord Stream 2, hydrocarbon production, legislation, EU, USA, gas transit, Turkish Stream, GTS, RF, sanctions, foreign affairs, Gas market, investors, Putin, pipeline, route, gas supplies, the US Senate

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