The Russian energy giant Gazprom isn’t going to like this.
The Great Coronavirus Rollback: Texas, Florida, And Nine More States Abandon Reopening Plans Amid Record Coronavirus Surge
The PEESA Clarification Act will impose sanctions against companies that engage in any “pipe-laying activities,” which are defined as “activities that facilitate pipe-laying, including site preparation, trenching, surveying, placing rocks, stringing, bending, welding, coating, lowering of pipe, and backfilling”; companies providing “underwriting services or insurance or re-insurance” services for pipe-laying vessels; companies providing “services or facilities for technology upgrades or...
There is no date yet for voting on the PEESA Clarification Act. It will probably pass. How Europe reacts will be interesting. Nord Stream II is part of a number of Russian pipeline projects that came to fruition around 2014. At the time, Russia and Ukraine were going through a bitter divorce. The Ukrainian government collapsed. A pro-Western one was installed, and Kiev pulled farther away from Moscow’s sphere of influence. Russia took over Crimea, then an autonomous state in Ukraine, and now they own it.
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