In Germany, a special fund can be created to bypass the US sanctions against Nord Stream 2. Bild writes about this with reference to sources
It is clarified that the special fund, presumably planned by the authorities of Mecklenburg-Vorpommern, will be aimed against climate change, therefore, in order to bypass Washington’s restrictive measures, it can define the Russian gas project as “an essential element for protecting the environment”.
In particular, the newspaper stresses, it is planned to establish a commercial enterprise, the products and services of which will only be used to complete the construction of the pipeline.
Thus, German companies, which may become the target of sanctions by the United States, would be able to provide services to the Russian side through the fund and its enterprises. Since, from a technical point of view, none of them will interact directly with Nord Stream-2.
The authorities did not respond to the newspaper’s request, but experts admit that the journalists are close to the truth.
The construction of the gas pipeline, already almost 94% completed, was halted almost a year ago after the inclusion of sanctions in the US military budget against ships conducting offshore pipe-laying. In October, Washington expanded sanctions against Nord Stream-2 to include businesses that provide services to ships involved in laying the pipeline.
These restrictions are part of the PEES package on the Protection of Europe’s Energy Security.
In November, the German government once again criticized the extraterritorial sanctions against the Russian gas project. In Berlin, it was stressed that they will coordinate further actions with European partners, the European Commission and companies involved in the construction of the gas pipeline.
A few days ago it became known that the German Federal Office for Shipping and Hydrography (BSH) has agreed to lay the pipeline in German waters for December. An application is being considered for the continuation of work in January-April next year. For work in January-April, it is necessary to complete the procedure for agreeing on changes to the general permit for work, said BSH Deputy Speaker Merle Mansfeld. She also noted that, according to the information available to BHS, the pipe-laying work will be carried out by the vessel “Akademik Chersky”. According to some reports, construction of the Nord Stream-2 is planned to resume in the coming weeks.
Economist, expert of the Financial University under the Government of the Russian Federation and the National Energy Security Fund Stanislav Mitrakhovich, on the air of Sputnik radio noted that there are many industrialists and politicians in Germany interested in completing the construction of the Nord Stream-2.
“Although there is a discussion in Germany regarding Nord Stream-2, the alliance of the project’s supporters is still strong. These are large companies, primarily Wintershall and Uniper. It is clear that these are companies that have connections with other business circles. In the German parliament, almost all parties except the Greens are in favor of the implementation of Nord Stream-2. The heads of the federal states of Germany have publicly expressed their support for the project, especially in the east of the country, where a branch from Nord Stream-2 called EUGAL will take place”, – said Stanislav Mitrakhovich.
Various branches of German industry need stable supplies of pipeline gas, the expert explained.
“For Germany, these are stable gas supplies, gas that will be cheaper in the long term than liquefied gas. The chemical industry needs this gas. Germany has given up coal and at the same time nuclear energy, it needs to add something to renewable energy sources… It is convenient for Germany to combine gas with renewable sources, at least for the next few decades”, – Stanislav Mitrahovich is convinced.
At the same time, not so long ago, the Bundestag rejected by a majority vote a draft resolution proposed by the Alternative for Germany (AfD) party on Nord Stream-2. During a roll-call vote, the document was supported by 83 deputies, and 553 parliamentarians opposed.
In the resolution, the party asked the federal government to unconditionally commit itself to the implementation of the Nord Stream-2 and support the rapid completion of construction.
In an interview with the Octagon newspaper, AfD deputy Stefan Koiter said that the construction of the gas pipeline meets the interests of Germany and Europe. The pipeline -2 will contribute to the fall in gas prices as transport costs and transit fees will be reduced due to the shorter route across the Baltic Sea compared to the continental route.
From an economic point of view, failure to implement the project could lead to losses of billions of euros and huge economic damage, the parliamentarian concluded.
He called the behavior of the other deputies of the Bundestag during voting usual. According to him, the proposals of the AfD, the largest opposition party in Germany, have always been rejected. If such an initiative came from the ruling faction, it would be supported.
Sources in Washington, meanwhile, report that the United States would not like to impose sanctions on European companies and continues to try to convince Europeans, as they say, in an amicable way. However, the Americans are convinced that Nord Stream-2 is a geopolitical project that Russia is using to put pressure on the Old World. And so they will do everything to bring Nord Stream-2 to complete collapse.
That is why one should not expect that under Biden something will change for the better in this respect. Most likely, the new American president will continue to tighten the screws.
But experts draw attention to one interesting point. Trump has systematically worked to create a maximum assistance regime for the US oil and gas sector. It was he who, by his own decision, brought America out of the Paris climate agreement, abolished state regulation of greenhouse gas emissions for energy enterprises. It was under Trump that a sharp jump in LNG and shale oil production took place, during which the United States, for the first time in its history, turned from an eternal buyer to an exporter. And even though the presence numbers are still meager, over the past four years, the share of LNG produced in the United States in the European Union has doubled from one and a half to three percent.
Biden will invest in alternative energy, ignoring the needs of the oil and gas sector. Experts recall that as part of supporting the solar panel segment alone, his predecessor Barack Obama allocated more than $100 billion from the budget. It is highly likely that Biden will continue this “green” trend (which ideally echoes with the German “environmental” fund for the construction of the pipeline).
In general, some experts note that for various reasons, one should not expect an increase in prices for natural gas. And in such conditions, it is not entirely expedient to speed up the completion of construction of the Nord Stream-2. So, in the opinion of these experts, by slowing down the commissioning of the pipeline, the Americans, in a sense, are even helping Russia to avoid future losses.
This is a rather paradoxical view of the problem. However, its presence underlines that the situation around Nord Stream-2 is not as simple and straightforward as it might seem at first glance.
Political Analytics