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Free AccessTed Cruz Bill To Sanction Nordstream 2 Rejected By Senate
Senator Ted Cruz's (R-TX) bill to compel immediate sanctions on Russia's Nordstream 2 gas pipeline has failed.
The Senate will now await the alternate sanction proposal of Senator Robert Menendez (R-NJ).
Here were the arguments from the second session of the debate.
- Senator Ted Cruz (R-TX): Putin yearns to reassemble the Soviet Union and wipe Ukraine off the face of the map.
- Senator James Risch (R-ID): Nordstream 2 allows Russia to invade Ukraine and still maintain gas sales to Europe. The marginalisation of Ukrainian pipelines allows an invasion without Russia risking damaging its own vital oil and gas infrastructure.
- Senator Robert Menendez (D-NJ): Democrats don’t want Nordstream 2 but the timing is not right for Cruz sanctions. The tensions are at a critical point and Russia is on the brink. US must have option to punish Putin with sanctions if they invade. Nordstream 2 was allowed by Trump. It could be months until Nordstream 2 is granted final permission so they are not central to current crisis. Germany is a productive partner on this issue and Cruz sanctions would be akin to US sanctions on Germany.
- Senator Robert Menendez (D-NJ) on his alternate sanction proposal: These would be the harshest possible sanctions on Russia, and Putin himself. They would effectively cut Russia out of the world system.
To read the full story
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Please enter your details below.
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.