European companies and US partners in the European Union was able to mitigate the attitude of Americans about the use of possible sanctions against Russian pipeline projects.
According to RBC, public interpretation (guidance) of the U.S. Department of state submitted by October 31, implies that at least at this stage, the American authorities are not going to interfere with the implementation of already initiated projects on construction of export pipelines.
The law on new sanctions CAATSA signed by the President of the United States Donald trump in August, allows (but not obligates) the state Department and the US Treasury, “in coordination with the allies of the United States” to impose sanctions against companies of any nationality that their investments or supplies of goods and services will help Russia to build pipelines for energy exports. In fact, the law stated only that the reason for the sanctions can be investment or delivery made after 2 August (the date the law came into force), but not stipulated, at what stage should be the project that participation in it was potentially punishable.
See also: Hybrid tube. As Nord stream-2 quarreled EU countries and the USA
European firms and governments, even despite the caveat about “coordination with allies” feared that the sanctions could affect major pipeline projects such as Nord Stream 2 (Nord stream-2), TurkStream (Turkish stream), or the expansion of the Caspian pipeline consortium (CPC), in which Russia owns the largest share of 31%. The European Commission has compiled a list of energy projects that may suffer from the new sanctions include both existing and proposed pipelines.
As a result of intensified lobbying by the Europeans (the state Department itself has reported on this several meetings and visits to Brussels and Washington) the U.S. government has determined that “the focus of the implementation of the” sanctions provisions will be projects initiated after August 2. And at the beginning of the project refers to a date “when a contract was signed for the project” (when a contract for the project is signed), said in public the leadership of the state Department on sanctions.
Gazprom in July, warned potential investors in its Eurobonds that the new us sanctions to prevent the construction of export pipelines. “The export pipeline projects group (including Nord stream-2 and Nord stream)… can face difficulties”, – stated in the prospectus Eurobonds of Gazprom.