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U.S. Democrats slam Cruz Nord Stream 2 sanctions bill ahead of vote

By Timothy Gardner WASHINGTON (Reuters) - The U.S. Senate was set on Thursday to vote on a bill to slap sanctions on Russia's Nord Stream 2 natural gas pipeline sponsored by...
U.S. Democrats slam Cruz Nord Stream 2 sanctions bill ahead of vote © Reuters. FILE PHOTO: U.S. Senator Ted Cruz (R-TX) talks to reporters at the U.S. Capitol in Washington, U.S. January 12, 2022. REUTERS/Jonathan Ernst

By Timothy Gardner

WASHINGTON (Reuters) - The U.S. Senate was set on Thursday to vote on a bill to slap sanctions on Russia's Nord Stream 2 natural gas pipeline sponsored by Republican Senator Ted Cruz, legislation that Democrats slammed ahead of the tally.

Cruz needs 60 votes for his legislation to pass, a major hurdle in the 50-50 Senate. The bill is scheduled for a vote at around 2:45 p.m. ET (1945 GMT).

Senator Robert Menendez has won the support of many of his fellow Democrats, including President Joe Biden, for an alternative bill he introduced on Wednesday. It would impose sweeping sanctions on top Russian government and military officials and banking institutions if Moscow engages in hostilities against Ukraine.

Senator Jeanne Shaheen, a Democrat who had originally co-sponsored Nord Stream 2 sanctions legislation with Cruz, said she opposes his bill because it risks breaking unity in Washington and in Europe over Russian aggression against Ukraine.

In a speech ahead of the vote, she said Cruz's legislation would "drive a wedge" between the United States and its allies in Europe, particularly Germany.

The United States, as well as some European countries including Ukraine and Poland, oppose the pipeline, which would deprive Kyiv of transit fees as well as increase Moscow's leverage over Europe, where gas prices have been soaring.

Cruz, whose proposal would also need to pass the House and be signed by Biden, said that if the Senate does not approve his bill, "Ukraine risks getting wiped off the map altogether."

The Cruz bill would put sanctions on Nord Stream 2 AG, the company building the project, within 15 days of passage. The Menendez bill would put sanctions on the pipeline, and Russian officials and entities after any aggression on Ukraine by Moscow.

The $11 billion Nord Stream 2 pipeline, led by state energy company Gazprom (MCX:GAZP), would send Russian gas under the Baltic Sea to Europe via Germany. It was completed late last year but is pending approvals by Germany and the EU that may not come until the middle of the year.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

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EUR/JPY

168.32

+0.10 (+0.06%)

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↑ Buy

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

17,921.95

-196.37 (-1.08%)

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FTSE 100

8,144.13

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Hang Seng

17,763.03

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US Small Cap 2000

1,973.05

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IBEX 35

10,854.40

-246.40 (-2.22%)

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Neutral

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BASF SE NA O.N.

49.155

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Bayer AG NA

27.35

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Allianz SE VNA O.N.

266.60

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Adidas AG

226.40

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Deutsche Lufthansa AG

6.714

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Neutral

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Siemens AG Class N

175.90

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Deutsche Bank AG

15.010

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
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EUR26.475,3627.949,19
GBP30.873,5232.211,36
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KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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