2017-07-25cnbc.com

A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russia to build energy export pipelines. EU firms involved in Nord Stream 2, a 9.5 billion euro ($11.1 billion) project to carry Russian gas across the Baltic, are likely to be affected.

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Markus Beyrer, director of the EU's main business lobby, Business Europe, urged Washington to "avoid unilateral actions that would mainly hit the EU, its citizens and its companies".

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The Commission could demand a formal U.S. promise to exclude EU energy companies; use EU laws to block U.S. measures against European entities; or impose outright bans on doing business with certain U.S. companies, an EU official said.

But if no such promise is offered, punitive sanctions such as limiting the access of U.S. companies to EU banks require unanimity from the 28 EU member states.

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Meanwhile there is little or no sign that the Western sanctions have had any tangible effect in Ukraine, as the Russian-backed rebellion in the country's industrial east continues unabated.



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