The new Russia, Iran, and North Korea sanctions law is not just stupid, it’s venal, an attempt to give US natural gas producers at leg up in the European market, at the expense of the Europeans. From Alexander Mercouris at the duran.com via lewrockwell.com:
The dispute between the US and Germany over the anti-Russian pipeline provisions of the new sanctions law continues to mount, with RT reporting Klaus Schaefer, a German businessman whom it describes as the CEO of German energy major Uniper fiercely denouncing the new sanctions as a ploy to force Europe to buy expensive liquified American natural gas instead of cheap Russian pipeline gas.
The core reason (for the sanctions) are strategic economic interests, meaning the targeted dominance of the US in energy markets.
RT reports Schaefer saying that liquified natural gas from the US would cost 50% more than pipeline gas from Russia, and that “Nobody wants to pay such a premium“.
I have previously discussed the economics for Europe of buying expensive American liquified gas in place of cheap Russian pipeline gas in a lengthy article, in which I also discussed how this was at least one motive for the new sanctions law.
In truth the new sanctions law serves multiple agendas. There is the wish of some people in the US to give the highly contested claim that Russia meddled in the US election the stamp of legal authority by imposing on the country and the President a law which insists it. There was the desire of some people to provoke Donald Trump into a head-on collision with Congress in a way that might have set the scene for his impeachment (discussed by me at length here). There was the desire of some people to protect the Maidan regime in Ukraine by blocking the building of Russian gas pipelines that bypass Ukraine. There is the widespread wish in the US – extending far back into the Cold War – to limit economic contacts between the US’s European allies and Russia as much as possible. Above all there is the overarching desire of the overwhelming majority of the US political class – including above all its intelligence and media communities – to maintain the confrontation with Russia and to block President Trump’s attempt to end it.
To continue reading: European Business Seethes Over New US Sanctions Law