NOT SO FAST

Swiss Company Halts Work on Russian Gas Pipeline Over U.S. Sanctions

President Trump signed a law late Friday slapping sanctions on companies working on the Nord Stream 2 pipeline from Russia to Germany.

A Swiss company announced late Friday that it would be halting work on a Russian gas pipeline just weeks before completion due to U.S. sanctions against companies involved in the project, Bloomberg reports. AllSeas Group SA announced in a Friday statement that it would cease the $11 billion Nord Stream 2 project “in anticipation of the enactment of the National Defense Authorization Act.” President Trump signed the NDAA a short time after the announcement. AllSeas was reportedly laying down the last section of pipe on the pipeline from Russia to Germany after 350 companies participated in the project. Trump has been critical of the project, claiming it would make Germany “a captive to Russia” and slamming the European Union for not diversifying its gas imports—which it mainly gets from Russia.