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Germany threatens retaliation if U.S. sanctions harm its firms (STA BREAKING NEWS and ARCHIVES)

by Theresa @, Friday, June 16, 2017, 17:45

Germany threatened on Friday to retaliate against the United States if new sanctions on Russia being proposed by the U.S. Senate end up penalizing German firms.

The Senate bill, approved on Thursday by a margin of 98-2, includes new sanctions against Russia and Iran. Crucially, it foresees punitive measures against entities that provide material support to Russia in building energy export pipelines.

Berlin fears that could pave the way for fines against German and European firms involved in Nord Stream 2, a project to build a pipeline carrying Russian gas across the Baltic.

Among the European companies involved in the project are German oil and gas group Wintershall, German energy trading firm Uniper, Royal Dutch Shell, Austria’s OMV and France’s Engie.

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