Nord Stream Pipeline Damage Can Exacerbate Higher Price Volatility In Europe, World - UN

UNITED NATIONS (Pakistan Point News / Sputnik - 01st October, 2022) The attacks on the Nord Stream 1 and 2 pipelines that rendered them inoperative and caused gas leaks into the Baltic Sea can exacerbate higher price volatility in Europe and throughout the world, UN Assistant Secretary-General for Economic Development Navid Hanif said during a UN Security Council meeting on Friday.

'I would like to point three possible potential impacts of the leaks. First, the damage to the Nord Stream pipeline raises concerns regarding the uncertainty in the global energy markets... The incident can exacerbate the higher price volatility on the energy markets in Europe and around the world," Hanif said. 'Second, the potential environmental impact of the leaks is a matter of deep concern."

Hanif said the incident concerning the Nord Stream 1 and 2 pipelines makes clear the vulnerability of critical energy infrastructure.

The official emphasized that the United Nations is not in a position to verify or confirm any of the reported details related to the attacks on the pipelines.

On Monday, the Nord Stream 1 and 2 pipelines were damaged in the Baltic Sea by means of explosions and rendered inoperative. The Swedish and Danish authorities said they discovered gas leaks caused by undersea explosions, with the consensus being that the incident was a result of sabotage.

On Friday, Russian President Vladimir Putin said that the United States and its allies are now switching their policy from imposing sanctions to destroying energy infrastructure. The Russian Prosecutor General's Office is investigating the incident as an act of international terrorism.