Nord Stream 2 Construction stopped - Russia Counts on the EU

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Nord Stream 2 Construction stopped - Russia Counts on the EU

Thu, 12/26/2019 - 15:57
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Nord Stream 2 Construction stopped - Russia Counts on the EU (Copyright: Axel Schmidt / Nord Stream 2)
Nord Stream 2 Construction stopped - Russia Counts on the EU (Copyright: Axel Schmidt / Nord Stream 2)

Following the US sanctions against the Nord Stream 2 pipeline and the halt of all remaining construction works, Russia now expects the European Union to find a way out of the situation. The EU has an interest in its own energy security at acceptable prices, said the Russian Vice-Chancellor Dmitry Kozak. The Russian pipeline gas is 30 percent cheaper than the liquid gas from the USA, he stated. 

However, it is unclear how things will move on from here, especially since several EU countries and the EU commission itself oppose the project. The US ambassador to Germany, Richard Grenell, rejected the strong criticism from Germany and Russia. "15 European countries, the European Commission and the European Parliament have all expressed their concerns about the project," he said. The sanctions are therefore "a very pro-European decision". Many European diplomats had expressed their gratitude that the US government had taken these measures.

Once again the EU is split into different interest groups. This will delay the construction of the project for - at least - several months. Russia must now complete the construction of the pipeline without the know-how of Western companies like Allseas, which was supposed to complete the construction very soon. However, the sanctions pose a major threat to any company interested in doing business in the US markets, forcing Allseas out of the project. 

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