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U.S. Senate to vote on Cruz’s Nord Stream 2 sanctions bill on Thursday -Breaking

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© Reuters. FILE PHOTO: A worker is seen at the construction site of the Nord Stream 2 gas pipeline, near the town of Kingisepp, Leningrad region, Russia , June 5, 2019. REUTERS/Anton Vaganov/File Photo

WASHINGTON, (Reuters) – The U.S. Senate is set to vote Thursday on a bill that Republican Ted Cruz has introduced to impose sanctions on Nord Stream 2’s European pipeline. However it is unlikely to receive enough support for passage.

At 2:45 PM, the bill will be up for vote. ET is the equivalent of 1945 GMT, according to Democratic Senator Jon Ossoff.

Cruz and Democrats reached an agreement last month with Cruz to allow him to cast a ballot on Russia-to Germany’s natural gas pipeline prior Jan. 14, in return for his lifting of dozens Democratic President Joe Biden’s nominations as ambassadors.

To pass Cruz’s bill, the agreement would require 60 votes. That is an extremely high threshold in an equally divided chamber that has little bipartisanship.

Cruz’s bill would apply sanctions to the pipeline in 15 days after passage. This would be regardless of Russia’s invasion of Ukraine. It would also allow Congress to approve the reintroduction of sanctions if the president decides to waive them. Cruz stated that sanctions were necessary immediately in order to stop this project.

German regulators may approve Gazprom, Russia’s gas giant, in the middle to the year. This is according to Uniper SE (OTC) chief executive, which was one of five European energy firms that are financing the project.

As well as the United States and some European countries, including Ukraine, Poland and Poland are opposed to the pipeline. This would not only deprive Kyiv from transit fees, but also increase Moscow’s influence over Europe, where gas prices continue their upward spiral.

Democratic Senator Robert Menendez, who is a Democratic senator, presented Wednesday’s bill which would place severe sanctions on the Russian top government, military officials, and major banking institutions in case Moscow joins hostilities against Ukraine.

Menendez supported the bill, which offers an alternative option for Democrats who are against sanctions on Nord Stream 2, and makes Cruz’s bill more difficult to pass.

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