The power company USA have spoken out against the new bill on sanctions against Russia

The power company USA have spoken out against the new bill on sanctions against Russia


Moscow. The 4th of July. INTERFAX.RU – Exxon Mobil Corp and other energy companies, as the White house expressed concern that the Senate bill on sanctions against Russia and Iran may freeze oil and gas projects with participation of Russian partners around the world, writes The Wall Street Journal.

The power company is concerned about the situation of the bill, which limits the possibility of creating partnerships in the world with Russian companies under restrictive measures. In its current form, the bill, in particular, can affect two of the project Exxon with Rosneft outside of Russia – in the state of new Mexico and the canadian province of Alberta.

The law, if it comes into force, will prevent any partnerships with Russian companies, not only in the energy sector, but also in the financial and industrial sector, which raised concerns also industrial corporations and banks.

According to sources of the newspaper, General Electric Co. closely monitoring the situation, as concerned that the law could put us firms at a disadvantage compared with global competitors.

The fate of the bill in the House of representatives is not determined due to objections from the US administration. The pressure from the energy companies also may hinder the adoption of the bill, the newspaper said.

The white house did not rule out that President Donald trump may veto the bill if it is passed by Congress.

In mid-June, the US Senate by a majority of 98 votes out of 100 approved the bill S. 722, which strengthens sectoral sanctions against Russia.

Source