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Gas Pipe Operator: US Sanctions Against North Stream 2AG

Status: 02/23/2022 9:20 pm

Another blow to Nord Stream 2: US imposes sanctions on operating company due to escalation of crisis in Ukraine. President Biden said he was closely coordinating with President Scholes.

After the federal government suspended the approval process for the German-Russian gas pipeline Nord Stream 2, the United States is now introducing sanctions against the operating company and its top managers. The Treasury Department in Washington said business with operator Nord Stream 2 AG should be halted within a week.

US President Joe Biden has announced sanctions against Switzerland – based Nord Stream 2 AG and its administration. In written communication Popular. He had previously considered doing so in Germany and refrained from doing so.

Close integration with Germany

In response to Moscow’s recognition of the separatist Donetsk and Luhansk regions in eastern Ukraine, the West imposed a series of sanctions on Russia. Biden said the decision on North Stream 2 was just another part of those first installment restrictions. “As I have made clear, if Russia continues to intensify, we will not hesitate to take further action.”

The United States has been working closely with the federal government on this issue. Biden thanked President Olaf Scholes for his “close partnership and continued commitment to holding Russia accountable for its actions.”

U.S. State Department spokesman Netflix said sanctions would mark the end of Nord Stream 2. “By working with the Germans, we have ensured that this $ 11 billion investment is now a piece of steel at the bottom of the ocean.”

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The process can take months

The Americans’ decision is another big blow to the pipeline. The plan was put on hold indefinitely and the federal government on Tuesday suspended approval. The pipe-laying work has been completed and is not yet operational.

According to the federal government, a possible decision on the future of Nord Stream 2 could take a few more months. The prerequisite for this would be a report on the impact of the project on supply security. When asked if it would take weeks, months or years to create, government spokesman Stephen Hebstreet said: “I do not count the weeks.”

Many European companies are involved

Switzerland-based Nortstream 2AG, a pipeline operator, is owned by the Russian state-owned Cosprom. The pipeline was set up to bring gas from Russia to Germany via Ukraine. Düsseldorf utility Uniper, OMV, Austrian Energy Company, Shell and French Engie participated in the funding. The total cost is estimated at 9.5 billion euros.

According to the US Treasury Department, punitive measures are also targeting German Nortstream CEO Matthias Warnick. According to the White House, Former President Heckhard SchrderHe has been chairman of Nord Stream’s shareholders’ group since 2005 and has not been affected by the ban.

America has been skeptical for a long time

In the United States, there has long been strong opposition to Nord Stream 2 among Republicans and Democrats. Critics have argued that the pipeline is primarily Russia’s geopolitical project. Putin’s goal is to separate Ukraine from Europe and make Europe more dependent on Russian gas. Over the past few months, Republicans have failed to tighten sanctions laws in Congress. Praise for Pitton’s decision came from their teams.

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Biden has long been opposed to Nord Stream 2. These sanctions were lifted on the grounds that Germany was an ally. At the time, Biden said the United States could no longer prevent the pipeline from ending.

The Nord Stream 2 issue has long caused resentment and anger between Germany and the United States. In a bid to defuse controversy, Germany in a joint statement with the United States last July extended overwhelming support for Ukraine. In view of the crisis in Ukraine, the situation has once again fundamentally changed. With the federal government now voluntarily withdrawing from Nort Stream 2, Biden no longer has to take Berlin into account.