The German Eastern Business Association (OAOEV) on Friday called a new US bill expanding sanctions on the Russia-led Nord Stream 2 gas pipeline a "threat" to the EU's sovereignty and urged the bloc to protect European firms involved in the project
BERLIN (Pakistan Point News / Sputnik - 05th June, 2020) The German Eastern business Association (OAOEV) on Friday called a new US bill expanding sanctions on the Russia-led Nord Stream 2 gas pipeline a "threat" to the EU's sovereignty and urged the bloc to protect European firms involved in the project.
On Thursday, US senators introduced a bill that would expand sanctions on Nord Stream 2 to include all companies that provide certification, insurance and port facilities for the pipeline project.
"With great concern, German companies are watching the ongoing attempts of US senators to impose sanctions on the construction of European-Russian Nord stream 2 gas pipeline," OAOEV said in a press release.
According to OAOEV chief Oliver Hermes, the new potential sanctions are a "direct threat to legal security in the EU" and will target "dozens of German and European businesses."
"We assume that the European Commission and the German government will protect European companies from this external influence and defend the EU's sovereignty properly," the release added.
Hermes went on to note that "political arguments" put forward by Washington against Nord Stream 2 "have much in common with fake news and little in common with reality."
"Nord Stream 2 does not threaten European energy security, but provides additional gas volumes, so that gas prices remain stable for European consumers and companies amid growing demand, and so that the EU can achieve its climate protection goals faster," the OAOEV chief added.
After the US included sanctions against the pipeline in its 2020 National Defense Authorization Act last year, Allseas, the Swiss company responsible for laying down the pipes, quit the project with just 100 miles of the pipeline left to lay.
Russia is now finishing the twin pipeline, which will carry up to 1.942 trillion cubic feet of gas per year to Germany via the Baltic Sea, on its own.
