Thursday, July 27, 2017
Overnight Energy: House passes Russia sanctions deal with oil, gas fix
The House easily passed bipartisan legislation on Tuesday to expand sanctions on Russia and limit the Trump administration's ability to lift them.
The legislation comes after lawmakers addressed a series of concerns oil and gas companies raised about the package, which they said would limit the extent to which American and Russian energy firms could interact.
The latest version of the bill clarifies that only Russian energy export pipelines can be sanctioned. It also establishes that the ban on U.S. investments in deepwater, shale or Arctic offshore projects applies only if there are Russian entities with an ownership interest of at least 33 percent.
Tuesday's vote amounted to a rebuke of President Trump, whose administration had pushed to water down the bill's provisions giving Congress the power to veto the lifting of sanctions.
Only three Republicans voted against the bill, in the 419-3 vote.
Under the bill, existing sanctions on Russia for its aggression in Ukraine and interference in the 2016 election would be codified into law. New sanctions would go into effect against Iran for its ballistic missile development, while North Korea's shipping industry and people who use slave labor would be targeted.
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