"Construction of its gas pipeline from Russia to China is 99% finished, Russian energy giant Gazprom has announced. According to reports, the company is planning to start delivering gas to China via the Power of Siberia line as early as December 2019.
Gazprom’s Investor Day presentation in Singapore revealed that in 2019 the company is planning to invest about $2.24 billion into the project. The pipeline is set to deliver 38 billion cubic meters of Russian natural gas to China annually.
Gazprom and the China National Petroleum Corporation (CNPC) reached a 30-year agreement for gas supplies via the Power of Siberia gas pipeline in 2014. In September 2018, Gazprom reported that the Russian part of the pipeline, running from Yakutia gas production centers to China’s border, was almost complete. The construction of pipeline on Chinese territory is also almost completed." SF
This would seem to be a demonstration of the failure of US sanctions against Russia. This pipeline will be a prime source of hard currency foreign exchange for Russia. Does the US Government not know of the agreement between Gazprom and CNPC? Has the US Government not known how close this pipeline is to completion and function?
There are several other Russian gas pipelines either in operation or construction. All these earn hard currency foreign exchange for Russia's Gazprom energy company. Gazprom is IMO an arm of the Russian government. It has served well as a fund raising device for various parts of the Russian state security apparatus in the lean years since the fall of the Soviet Union. The letters GRU come to mind.
Surely the agencies of the US IC know the effectiveness and success of Gazprom as "cash cow" for the Russian state.
That being apparent, one must ask what it is that Pompeo and the boys and girls in the State Department think that they are playing at? Whatever the game may be, it seems useless.
I ask the committee to comment on the ACTUAL level of Russian economic distress caused by US sanction. Are we impeding their way in the world or are we just deceiving ourselves? pl