Baku, Azerbaijan, Aug.7
By Leman Zeynalova – Trend:
The US is unlikely to apply sanctions irrespective of the European Union’s position, Charles Ellinas, CEO of Cyprus-based energy consultancy e-CNHC told Trend.
On August 2 US President Donald Trump signed into law the legislation that levies new sanctions against Russia.
The new sanctions bill hits Russia's energy and defense sectors, and also includes fresh sanctions against Iran and North Korea.
“The sanctions also include a provision that the US will consult its allies before applying the sanctions. In addition, the European Commission’s president made it clear that the EU is prepared to defend its economic interests. As a result, I do not see the European companies changing their approach to Russian energy projects immediately. However, this might change if the US applies sanctions irrespective of the EU position. But I do not expect such a situation will be allowed to develop,” said Ellinas.
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