A group of lawmakers recently introduced a measure designed to combat Russian influence while creating economic opportunities at home and abroad.
Sens. Cory Gardner (R-CO), Chris Murphy (D-CT), Ron Johnson (R-WI), Jeanne Shaheen (D-NH), Ben Cardin (D-MD) and Marco Rubio (R-FL) said the European Energy Security and Diversification Act authorizes $1 billion in financing to catalyze public and private sector investment for European energy projects, in addition to diversifying Europe’s energy supply and decreasing Russia’s hold on the region.
“Putin’s global campaign to test our resolve and undermine the United States and our allies by leveraging their energy dominance in Europe cannot go unanswered,” Gardner said. “This bipartisan bill will help promote energy independence and diversify the energy portfolios of our European allies, reducing Russia’s ability to bully Central and Eastern European nations.”
The Act would also address electricity infrastructure, including transmission infrastructure, storage projects, and smart grids; authorize $5 million per year in appropriations for the U.S. Trade and Development Agency (USTDA) for project feasibility studies, reverse trade missions, pilot projects, and technical workshops to support projects in the earlier stages of development; and encourage the State Department to ramp up its political and diplomatic support to eligible countries.
“The Kremlin uses bribery, corruption and scare tactics to coerce countries in Eastern Europe into remaining dependent on Russian energy and oil,” Murphy said. “Our bill helps spur public and private sector investment to help our allies secure new sources of energy and contributes to strategically important projects to help break Putin’s grip on Eastern Europe while creating good jobs here in the United States.”