Protecting Europe’s Energy Security Act of 2019

Protecting Europe's Energy Security Act of 2019

This bill establishes sanctions related to the provision of vessels for the construction of Russian energy export pipelines.

The Department of State must report to Congress (1) a list of vessels engaged in below sea-level pipe laying for the construction of the Nord Stream 2 pipeline, the TurkStream pipeline, or any successor projects; and (2) a list of foreign individuals and entities that knowingly provided or facilitated the provision of the vessels for such pipeline construction. The State Department shall impose property- and visa-blocking sanctions on (1) the identified foreign individuals and entities, and (2) each corporate officer and principal shareholder with a controlling interest in the identified vessels.

The President may impose various sanctions on foreign individuals and entities that knowingly provide significant underwriting, insurance, or reinsurance for the identified vessels. The sanctions may include prohibitions from (1) receiving Export-Import Bank export assistance, (2) being designated as a primary dealer of U.S. government debt instruments, or (3) receiving U.S. government procurement contracts.