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Extending European Energy Security Sanctions and Removing Presidential Waiver Power.

This bill aims to strengthen European energy security by extending existing sanctions on certain energy projects until 2031. The most significant change is the removal of the President's authority to temporarily waive these sanctions. While primarily a foreign policy measure, it solidifies the US stance on global energy infrastructure, indirectly influencing international energy markets.
Key points
Extends the duration of sanctions under the Protecting Europe’s Energy Security Act (PEESA) until January 1, 2031.
Repeals the provision that allowed the President of the United States to temporarily waive (suspend) these sanctions, ensuring stricter enforcement.
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Additional Information
Print number: 118_HR_8650
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2024-06-07