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 Russian energy export pipelines, and (2) a list of foreign individuals and entities that 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 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.
The State Department shall develop a strategy on improving the energy security of U.S. allies in Europe. The State Department shall also report to Congress (1) on the effects of Russia's Nord Stream 2 natural gas pipeline on U.S. national security; and (2) a periodically updated list of entities providing goods, services, or technology for the construction or repair of the pipeline and whether such transactions are prohibited under certain U.S. laws.