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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Cruz Hoping For Rift Among Senate Democrats to Pass Nordstream 2 Sanctions
The Ted Cruz (R-TX) bill to compel US sanctions on the Nordstream 2 pipeline will go to a Senate vote this week. Permitted by Senate Majority Leader Chuck Schumer (D-NY) in exchange for an end to Cruz's blockade of diplomatic nominations. Republicans will require 10 Democratic senators to cross the aisle for the bill to pass.
- The support for sanctions has been bipartisan. In response, the White House has dispatched Victoria Nuland, undersecretary of State for political affairs, and the State Department’s senior adviser for global energy security Amos Hochstein to brief wavering senate Democrats on concerns over diplomatic relations with Germany and the requirement of leverage over Russia in the Ukraine crisis.
- Senators Jon Tester (D-MO), Joe Manchin (D-WV), Jeanne Shaheen (D-NH), Jackie Rosen (D-NV), and John Hickenlooper (D-CO) are among the senators briefed. The bill is expected to fail but this vote will be a test of Joe Biden’s ability to unify his party.
- Senator Cruz has stated: "After coming into office vowing to disrupt Nord Stream 2, the Biden administration has gone through several cycles of explaining why it wasn’t imposing all the sanctions it can on the project…". Cruz further added that sanctions on the pipeline are a way to: ‘Stand up to Putin, stop Russian aggression, and support Ukraine…’
- Ukrainian President tweeted on January 8 ‘Thank you Senator Schumer and Senator Ted Cruz for agreeing on a vote to stop Russia’s NordStream 2’.
- GOP Senator Rand Paul (R-KY) is another viable to consider. Paul has stated that the mutually beneficial commercial ties brought by Nordstream 2 are an effective barrier to war. If he votes against the bill it will be difficult to see it passing.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.