Gatestone Institute: One must assume that Putin’s pet pipeline is not really a business venture — and that the fools are the Europeans, in particular the Germans…. In short, Nord Stream 2 could make Ukraine, Poland and the Baltic states less secure, undermine the EU’s security strategy, give Russia a big stick for threatening Eastern Europe and sow discord among NATO allies.
To Mr. Putin, causing so much trouble for a mere $11 billion must seem like a bargain. For Europe it is a trap…. The mystery is why Germany has fallen into it and has been twisting French arms to do the same.” — The Economist. Read More …
In a nutshell:
- A Swiss company (Allseas) working on the controversial Nord Stream 2 gas pipeline directly linking Russia to Germany has suspended pipelaying operations after Donald Trump signed new sanctions into law
- The sanctions are part of an effort by the United States to halt completion of the €9.5 billion ($10.5 billion) pipeline, which would double shipments of Russian natural gas to Germany
- American sanctions may delay Nord Stream 2, but they are probably too late to kill the project.
- On December 17, the U.S. Senate passed the (NDAA) requiring the U.S. State and Treasury departments to submit a report within 60 days that identifies approx. 350 companies that are engaged in pipe-laying
- On December 21, Allseas said that it had suspended its activities until further notice – with only 99 miles left to go Russia will have to complete the project alone
- Nord Stream 2 is led by Russia’s Gazprom
- Germany’s current Social Democratic Foreign Minister, Heiko Maas, has criticized the U.S. sanctions as foreign interference
- Europe is deeply divided over the Nord Stream project
- Russia is the largest supplier of natural gas to the EU
- The mystery is why Germany has fallen into the trap and has been twisting French arms to do the same
The EastMed pipeline project, currently in design, will transport natural gas from the off-shore gas reserves in the Levantine Basin into Greece, and in conjunction with the Poseidon and IGB pipelines into Italy and other European regions by 2025.
(Thanks to Vason for sending this article in)