Russia worries U.S. sanctions will impede its Europe energy-development projects

Russian and European business and government leaders have been collaboratively planning several new energy projects.
By Paul Pate | Jul 28, 2017
New sanctions that the United States may impose on Russia could seriously harm Russia's major investment projects with European partners, the Kremlin said Monday. Its statement followed a similar recent pronouncement from German officials, who threatened to retaliate against the United States if new Washington-imposed sanctions undermine German firms' Russia projects.
As a major oil and natural-gas supplier for Europe, Russia continues to attract European energy-development investments despite Moscow's fraught relations with the European Union and the United States and the sanctions that both EU and U.S. officials have already put in place on Russia since the Crimea crisis of 2014. Russian and European business and government leaders have been collaboratively planning several new energy projects, including Nord Stream 2, a natural-gas pipeline that is supposed to follow a route through the Baltic states from Russia to western Europe.
"It goes without saying that we and our European partners attach great importance to finishing these projects and we will work towards this," said Dmitry Peskov, Kremlin spokesman, in a conference call with reporters. "That is why discussions about 'sanctions themes'which could potentially obstruct these projectsare a cause of concern for us."
Peskov was speaking in reference to pending legislation in the U.S. Congress to impose additional sanctions on Russia over a number of Kremlin-led actions, one of which is Russian interference in the U.S. elections. The White House has argued against the legislation but said more recently that it was open to signing the legislation all the same.
He added that Moscow would "wait patiently" to see if the new U.S. sanctions come to pass and if they undergo any modifications. The negotiations process has already produced "some corrections" to the bill, he said.


Have something to say? Let us know in the comments section or send an email to the author. You can share ideas for stories by contacting us here.

Comments should take into account that readers may hold different opinions. With that in mind, please make sure comments are respectful, insightful, and remain focused on the article topic.