BASF to Assess New US Anti-Russia Sanctions Impact After Bill Finalized

MOSCOW (Sputnik) — The implications of new US anti-Russia sanctions for German BASF Group, which controls Wintershall Holding GmbH, a German oil and natural gas producer that participates in Nord Stream 2 project, can only be assessed once the bill is fully approved, the BASF press service told Sputnik on Wednesday.

The US House of Representatives approved by a 419-3 vote on Tuesday a new version of a bill that would impose sanctions on Russia, Iran and North Korea. The measures target Russia's defense, intelligence, mining, shipping and railway industries, and restrict dealings with Russian banks and energy companies.

"The extent to which the sanctions approved on Russia by the House for Representatives could have an impact on BASF can only be assessed after the conclusion of the legislative procedure," the company's press service said.

In April, Wintershall said it signed a financing agreement with the Nord Stream 2 AG.

Nord Stream 2 is a pipeline that is expected to go through the Baltic Sea to transport Russian natural gas to Europe.

The US bill suggests that the United States will continue opposing the construction of the Nord Stream 2 pipeline. The bill now has to be signed by US President Donald Trump after approval by the Senate.