OMVJF - Nord Stream 2 sanction waivers blocked in bill by House panel

The Biden administration could face pressure to block the Nord Stream 2 pipeline after a House of Representatives panel this week passed an amendment that would repeal the State Department's ability to waive sanctions on the project.The sanctions are "mandatory not discretionary," one representative said of the bill, which was passed unanimously by the panel.The bill has far to go before becoming law, needing to pass another House committee, the full House and the Senate before being signed by President Biden.In May, the State Department issued a report that Nord Stream 2 and its top official engaged in sanctionable activity, but Secretary of State Antony Blinken waived the sanctions.The Gazprom-led (OGZPY) project includes western partners Royal Dutch Shell ([[RDS.A]], [[RDS.B]]), BASF's (BASFY) Wintershall, Uniper (UNPPY), OMV (OMVJF) and Engie (ENGIY).The U.S. and German governments reportedly are seeking a deal by August to limit Russia's geopolitical gains from Nord Stream 2.

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Nord Stream 2 sanction waivers blocked in bill by House panel