BRUSSELS, July 26. /TASS/. The European Commission (EC) is ready to undertake specific actions for protection of European interests if these are affected by new US sanctions, the EC said in its statement on Thursday after the discussion of the new US bill on sanctions against Russia, Iran, and DPRK.
"The Commission concluded today that if our concerns are not taken into account sufficiently, we stand ready to act appropriately within a matter of days," the EC said. The draft bill "foresees the imposition of sanctions on any company (including European) which contributes to the development, maintenance, modernization or repair of energy export pipelines by the Russian Federation," the EC noted.
"The Commission will continue to closely monitor the on-going legislative process in the US and the subsequent implementation of the Bill and will act swiftly if and when needed," the EC said in its statement.
Sanctions can affect EU energy projects
Sanctions of the US against Russia if carried into effect "can have an impact on projects crucial to the EU's diversification objectives," the European Commission said.
"Depending on its [US bill on sanctions - TASS] implementation, this could affect infrastructure transporting energy resources to Europe, for instance the maintenance and upgrade of pipelines in Russia that feed the Ukraine gas transit system. It could also have an impact on projects crucial to the EU's diversification objectives such as the Baltic Liquefied Natural Gas project," the EC said.