The fresh friction also contrasts with close cooperation between the European Union and former U.S. president Barack Obama over sanctions against Russian Federation for its encroachment in Ukraine. He told the Interfax news agency the new sanctions are pushing Russian Federation and the U.S. And, of course, how long until Russia expels some 30 USA diplomats now that it is abundantly clear the U.S. won't return the seized Russian diplomatic compounds as Putin has been demanding in recent weeks.
The bill is meant to deter investment in Russian energy projects, forbidding USA companies from investing in shale, deepwater or Arctic oil and gas projects in which Russian companies control a greater than 33 percent stake.
The legislation would punish any company working not only to develop, but also to upgrade and maintain, Russian-related projects across the planet. The legislation strips him of his power to remove sanctions on his own, instead requiring some consent by Congress.
In a statement issued on Sunday, the White House said President Trump would be willing to sign such a bill.
The U.S. House of Representatives voted overwhelmingly on Tuesday for the plans and to force President Donald Trump to obtain lawmakers' permission before easing any sanctions on Moscow. But on Monday, she told reporters on Air Force One that Trump is going to study that legislation before making a final decision. "If German firms are banned from participating in gas pipeline enterprises, very important projects in the energy supply security sector can be halted".
A European Commission source told Politico.eu that changes late last week to the USA draft bill "look much better for EU interests".
It also could have an impact on projects crucial to the EU's diversification objectives, such as the Baltic Liquefied Natural Gas project.
Trump may support Russian Federation sanctions legislation
The draft USA sanctions law would target Russian energy, financial, railways, shipping, and metals and mining sectors. The draft US sanctions law would target Russian energy, financial, railways, shipping, and metals and mining sectors.
An EU official said most member states saw Nord Stream 2 as "contrary or at least not fully in line with European objectives" of reducing reliance on Russian energy.
The European Union is reportedly discussing retaliatory measures against the American legislation, according to the FT, should it become law. According to the Financial Times newspaper, the European Commission is planning to prevent these USA sanctions from being "recognized or enforced" in Europe and to prepare "retaliatory measures" in accordance with the rules of the World Trade Organization. "Germany especially can not continue to argue that Nord Stream II is just a business proposition".
In an apparent concession, however, the Chamber has edited an article so that it targets only the pipeline, whose origin is in Russian Federation - sparing those who, like the oil pipelines of the Caspian sea from the Kazakhstan transit through Russian Federation.
It could also hit Germany's E.ON, France's Engie and the Netherland's Gasunie, and others tied to Nord Stream.
Some of the relatively cheap gas is sent to Italy and France, but many nations in central and eastern Europe are far more reliant on supplies piped in from Russian Federation.
The Trump administration is unlikely to veto it because the whopping majority in Congress could subsequently overturn such a veto.
In a new rift that threatens the Western alliance over Russia, European Union leaders Wednesday accused the USA of using a planned new set of sanctions to further its own economic interests at Europe's expense. "This impact could be potentially wide and indiscriminate, including when it comes to energy sources diversification efforts", the European Commission said in a statement.