Is it possible to find a formula for solving the Nord Stream 2 dilemma?
Volodymyr Omelchenko, Director of Energy Programmes at the Razumkov Centre, commented on the situation around sanctions against Nord Stream 2.
Recent amendments to the defense budget by the US House of Representatives have prevented the Administration of President Joe Biden from applying exceptions to sanctions against companies connected to the Nord Stream 2 gas pipeline project. First of all, this applies to the Nord Stream 2 gas pipeline operator, which is 100% owned by Gazprom and registered in the Canton of Zug (Switzerland).
It is known that in January 2021, the US Presidential Administration unexpectedly applied an exception to Nord Stream 2. This decision was primarily connected to Biden’s desire to restore constructive relations with Germany, which were broken under his predecessor Donald Trump. For Washington, this is especially important in the context of forming a strong coalition to curb Beijing’s foreign policy ambitions.