Trump may support Russia sanctions legislation

"This is a core objective that the European Union and the USA share". He told the Interfax news agency the new sanctions are pushing Russian Federation and the U.S. Meanwhile, there is an area of relations between Russian Federation and the United States, which, as USA congressmen believe, needs to be protected to avoid multi-billion losses.

"The impression remains that the US side is prioritizing its own economic interests", Treier added with view to the USA oil and gas industry.

The US bill and the EU reaction expose the fundamental conflicts behind the rapid deterioration of US-EU relations since the election of Donald Trump as US president previous year. The legislation strips him of his power to remove sanctions on his own, instead requiring some consent by Congress. It now heads to the Senate before President Donald Trump will face the tricky choice of whether to veto the legislation, which has been opposed by the White House and considerably constrains his ability to lift the penalties.

U.S. Reps. Mark Walker and Ted Budd, both Republicans who represent Guilford County in Congress, support the Russian Federation sanctions bill on the schedule for today.

But President Trump is not the only one with reservations about the new sanctions.

A Commission memo leaked to press this week said there was a "serious risks of detrimental political spillovers" if the USA went ahead.

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The document reportedly said European Commission chief Jean-Claude Juncker was particularly concerned the sanctions would neglect the interests of European companies.

But it is the Nord Stream 2 pipeline that is likely receiving the most attention, a major project that could also become ensnared in the new USA restrictions. One casualty could be the planned US$10 billion Nord Stream 2 natural gas pipeline between Russian Federation and Germany, a project that to some extent would compete with U.S. exports of liquefied natural gas to Europe. The GOP-controlled Congress has not been able to send bills fulfilling any of Trump's campaign pledges, such as repealing the healthcare law and reforming the tax code to Trump's desk thus far.

"We consider such a continuation of the rhetoric of sanctions counter-productive and harmful to the interests of both countries", Kremlin spokesman Dmitry Peskov said. Europe has alternative sources and future gas supplies will not depend exclusively on Gazprom and Nord Stream II. Firms involved in transporting gas to Europe from the Shah Deniz field in Azerbaijan and the Russia-to-Turkey TurkishStream pipeline would also be threatened. But Nord Stream 2 will also make Germany a larger energy hub, allowing for the country to act as the crossroads for energy distribution to other parts of Europe.

The pipeline's critics say it would harm European Union energy security by concentrating 70 percent of Russian gas exports in the German route.

A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russian Federation to build energy export pipelines.

U.S. Speaker of the House Paul Ryan said it was Congress' job to hold the countries who worked with Russian Federation accountable for undermining the United States and disrupting global stability.

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