50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

U.S. senator gets vote on Nord Stream 2 sanctions, in deal over envoy approvals

Published 12/18/2021, 05:34 PM
Updated 12/18/2021, 07:35 PM
© Reuters. FILE PHOTO: The two onshore pipe exits of the Baltic Sea pipeline Nord Stream 2 are pictured at the landfall facility in Lubmin, Germany, September 10, 2020. Picture taken with a drone.  REUTERS/Hannibal Hanschke/File Photo
NG
-

By Timothy Gardner

WASHINGTON (Reuters) - Republican U.S. Senator Ted Cruz will get a vote in January on his bill to slap sanctions on Russia's Nord Stream 2 pipeline in a deal struck with Democrats in which he agreed to lift holds on dozens of President Joe Biden's nominees for ambassador posts.

In the agreement reached early Saturday between Senate Majority Leader Chuck Schumer, a Democrat, and Cruz, the Senate will vote before Jan. 14 on Cruz's bill to place sanctions on the Russia-to-Germany natural gas pipeline.

The deal cleared the way for the Senate's approval of roughly three dozen ambassadors, including former Chicago Mayor Rahm Emanuel as ambassador to Japan.

Under the agreement, Cruz's bill, which would impose measures on the pipeline under previous mandates, will need 60 votes to pass. That is a hurdle in the 50-50 Senate, where bipartisanship is scarce.

Democrats this autumn had been rallying around a separate measure that would place sanctions on Nord Stream 2 and Russian officials only if Russia invaded Ukraine, but that legislation was dropped from annual defense policy legislation.

A senior Republican congressional aide said on Saturday he believed Cruz's bill would pass.

Biden opposes Nord Stream 2, which is completed but awaiting approvals from Germany, because it would bypass Ukraine, depriving it of transit fees and potentially undermining its struggle against Russia. The administration also believes the project would increase Russia's leverage over Europe. Moscow says the project is only commercial.

The White House and the State Department did not immediately respond to requests for comment.

© Reuters. FILE PHOTO: The two onshore pipe exits of the Baltic Sea pipeline Nord Stream 2 are pictured at the landfall facility in Lubmin, Germany, September 10, 2020. Picture taken with a drone.  REUTERS/Hannibal Hanschke/File Photo

In May, the Biden administration placed sanctions on Nord Stream 2 AG, the company that controls the pipeline. But it immediately waived the sanctions, saying the project was already mostly built and as the administration sought to repair ties with ally Germany.

Germany is taking time to approve the pipeline. In a setback for Nord Stream 2, Germany's energy regulator said on Thursday https://www.reuters.com/business/energy/german-regulator-says-nord-stream-2-launch-not-expected-h1-2022-2021-12-16 that no decision on whether to allow it to be commissioned is expected in the first half of 2022.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.