U.S. Department of State prepares sanctions against companies investing in Nord Stream 2 – Pompeo

It's a clear warning to companies aiding and abetting Russia's malign influence projects will not be tolerated, Pompeo said.

REUTERS

REUTERS

U.S. Secretary of State Mike Pompeo says the U.S. Department of State is preparing to impose sanctions against companies investing in the Nord Stream 2 energy project.

Read alsoBill expanding sanctions against Nord Stream 2 filed in U.S. House of Representatives – Naftogaz

"The Department of State is issuing updated public guidance for section 232 of CAATSA, the Countering America's Adversaries Through Sanctions Act, in order to expand implementation of the act. This includes investments or other activities related to a broader scope of Russian energy export pipelines for Nord Stream 2 as well as the second line of TurkStream," he said in his remarks to the press in Washington DC on July 15.

"This action puts investments or other activities that are related to these Russian energy export pipelines at risk of U.S. sanctions.  It's a clear warning to companies aiding and abetting Russia's malign influence projects will not be tolerated. Get out now, or risk the consequences," he said.

"Let me be clear: These are't commercial projects. They are Kremlin's key tools to exploit and expand European dependence on Russian energy supplies, tools that undermine Ukraine by cutting off gas transiting that critical democracy, a tool that ultimately undermines transatlantic security," he said.

Pompeo added that "the United States is always ready to help our European friends meet their energy needs."

"I think we should be very clear: Our expectation is that those who participate in the continued project will be subject to review for potential consequences related to that activity," he summed up.

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