USA to allocate USD 30 million for energy security in Ukraine

Investing in Ukraine: USA to allocate USD 30 million for energy security in Ukraine

The “#Countering #America’s #Adversaries Through #Sanctions #Act” signed by #U.S. #President #Donald #Trump on 2 August 2017 provides, among other things, for #allocating USD 30 #million for #energy #security #measures in #Ukraine and creating a “#Countering #Russian #Influence #Fund”. The Act is primarily aimed at helping Ukraine and #European #allies of the #United #States to #strengthen their energy #independence from #Russia.

Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities

In addition, it shores up existing sanctions on Russia und enacts new ones to punish and deter Russian interference in the democratic process.

The United States take another step in support of Ukraine in restoring its territorial integrity and sovereignty and condemning Russian destabilizing efforts in the country. The “Countering America’s Adversaries Through Sanctions Act” signed by the U.S. President Donald Trump on Wednesday, 2 August 2017, shored up existing sanctions on Russia und enacted new ones to punish and deter Russian interference in the democratic process as well as to counter Russian subversion and destabilization efforts. It is designed to punish the Russian Federation for its meddling in the elections and human rights abuses. The Ukrainian Embassy in the United States published the respective statement on its website on Wednesday, 2 August 2017.

The Act also aims at helping Ukraine and European allies of the United States, steadfast partners on Russia sanctions, to reduce their energy dependence on Russia, especially on Russian natural gas. Moreover, the new Act is another U.S. statement regarding further opposing the Nord Stream 2 pipeline given its adverse effect on the EU energy security.

The Sanctions Act provides, inter alia, for creating a “Countering Russian Influence Fund” and allocating USD 250 million for its budget in the 2018-2019 financial years.

Furthermore, USD 30 million will be allocated for implementing Ukraine’s energy security initiatives. The Department of State will be working with the Ukrainian government to increase and protect Ukraine’s energy security.

On 27 July 2017, the Act was passed by the U.S. Congress. It took effect on 2 August 2017 following its signing by the U.S. President Donald Trump.

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