US sanctions are planned to hit European companies involved with Russia's Gazprom in the construction of the 1,225-kilometer pipeline under the Baltic Sea which will deliver natural gas from Russia to Germany and elsewhere across the European Union. The €9.5 billion ($11bn) project is 80 per cent complete and is due to be finished early next year.

It is quite clear – because US politicians have openly acknowledged it – that Washington's aim is to oust Russia as the main natural gas exporter to the giant EU market, and to replace with more expensive American-produced gas.

What's hilarious is the way American politicians, diplomats and news media are portraying this US assault on market principles and the sovereignty of nations as an act of chivalry.

Washington claims that the sanctions are "pro-European" because they are "saving Europe from dependency on Russia for its energy". The American hypocrisy crescendoes with the further claim that by stopping Russia earning lucrative export revenues, then Moscow will be constrained from "interfering" in European nations. As if Washington's own actions are not interference on a massive scale.

European politicians and businesses are not buying this American claptrap. The vast overstepping by Washington into European affairs has prompted EU governments to question the nature of the trans-Atlantic relation. About time too. Thus, Washington's hubris and bullying are undermining its objective of dominating Europe for its own selfish interests.