Currently Reading

Germany and U.S. Reach Deal on Nord Stream 2

1 minute read

Read Previous

European Commission Investigates Pegasus Affair

Chinese Embassy Complains Against Reuters Photo

Read Next

News

Germany and U.S. Reach Deal on Nord Stream 2

The U.S. says a deal has been reached with Germany to prevent Russian gas from being used as political leverage by Moscow over Europe in the Nord Stream 2 pipeline project, EUobserver reports.

The near-complete 1,230 km (764 miles) pipeline under the Baltic Sea will double Russian gas exports to Germany. U.S. official Victoria Nuland said it was “a bad pipeline,” but said the deal envisaged sanctions against Moscow if it tried to blackmail Ukraine.

Ukraine says the Nord Stream 2 pipeline threatens its security. Russia denies this and describes the project as commercially beneficial for all involved, reports BBC.

The U.S.-Germany deal sees Ukraine get $50 million (€42.3 million) in green energy technology credits and a guarantee of repayment for gas transit fees it will lose by being bypassed by the pipeline through 2024, reports the Associated Press.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *