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Germany And US Reach Deal On Nord Stream 2

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Germany And US Reach Deal On Nord Stream 2

Berlin and Washington reached a deal, according to US sources.

The US 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 1,230km (764 miles) pipeline under the Baltic Sea will double Russian gas exports to Germany. US 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, but Russia denies this and describes the project as commercially beneficial for all involved, reports BBC.

The US-Germany deal sees Ukraine get $50m (€42.3m) 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.

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