US considering sanctions against utilities supporting Nord Stream 2

Shell and Uniper are among the players which could be impacted by US sanctions.

Photo: Ritzau Scanpix/AP/Evan Vucci

This autumn, the US congress will negotiate two new bills proposing sanctions against companies financing Nord Stream 2, if plans for the gas pipeline are not dropped, reports Danish daily Politiken.

Some of Europe's largest utilities risk being impacted by the sanctions, including Shell, French player Engie, OMV in Austria, and German energy groups Uniper and Wintershall. According to Politiken, altogether they have more than 277,000 employees and a revenue of over DKK 4,000 (EUR 536.9 billion) annually. With such sanctions, the US could be adding fuel to the emerging trade war with the EU.

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