American corporations of the most different fields of activity followed by oil and gas companies in favor of softening the language in the bill on new sanctions against Russia. According to CNN, they organized a massive lobbying campaign on Capitol hill.
As reported by CNN sources in the U.S. Congress for this campaign are oil and gas giants BP and Exxon, engineering group General Electric, aerospace company Boeing, finkompany Citigroup, Mastercard and Visa. They were joined by manufacturers of different products: Ford, Dow Chemical, Procter & Gamble, International Paper, Caterpillar and Cummins, fearing the impact of sanctions on their business.
None of the companies does not call to completely abandon the bill . However, entrepreneurs alarmed by the potential deterioration of competitiveness on the world stage and loss of jobs in the United States and are seeking to introduce amendments to the bill. To this end, representatives of various industry and lobbying organizations hold meetings with the administrative staff of the Congress and congressmen, according to CNN.
Members of trade associations and lobbyists representing the interests of American business, is currently meeting with representatives to discuss possible amendments to the draft, adds the channel.
Earlier, the European oil and gas companies have criticized the new us sanctions that will affect a number of projects in the region, including the construction of the pipeline “Nord stream-2”.
The bill is stuck in Congress because of disputes of the upper and lower chambers, Republicans and Democrats, the Senate and the White house. The main cause of the differences – provision giving the Congress the right to block unilateral actions of the President, if he wants to relax or remove the restrictive measures. The Chairman of the Senate Committee on foreign relations Bob Corker said Tuesday that there are about 10 controversial issues, but almost all of them have been resolved.
The Republican majority leader in the House of representatives Kevin McCarthy wants to add to the bill already approved by the lower house of the sanctions against the DPRK that potentially will compel the Senate to approve these measures. However, such an approach may further tighten the discussion, and then the document will not pass through Congress before the August recess.
As reported, the bill, S. 722, which was adopted in June, the upper house of Congress by a majority of 98 votes out of 100, gives the US President the right to impose sanctions against someone who one-time invested from $1 million in the construction of Russia’s export pipelines or provided equipment (including lease), technology and services. The maximum amount for such transactions during the year, $5 million In the bill on additional sanctions there is a separate section on the “Nord stream-2”. It is said that the United States will continue to hinder the implementation of the project “because of its disastrous implications for the energy security of the EU, development of the gas market in Central and Eastern Europe, energy reforms in Ukraine”.
In addition, the bill further restricts opportunities to obtain the largest corporations of the Russian Federation of credits abroad. American companies and individuals will be prohibited from transactions with Russian banks providing financing for longer than 14 days. Currently, this limit is 90 days.
Not later than 180 days after the date of enactment, the Secretary of the Treasury following consultation with the Director of national intelligence and the Secretary of state shall submit to the appropriate committees of Congress a report detailing the potential effects of the expansion of sanctions due to the inclusion of sovereign debt of the Russian Federation.
The house of representatives in July got its own version of the bill (H. R. 3203), and now the congressmen agree on the differences between the two documents.
The white house did not rule out that President Donald trump may veto the bill if it is passed by Congress.