EU to sanction Nord Stream pipelines to block investment
The European Union plans to impose sanctions on the operators of the Nord Stream 1 and Nord Stream 2 gas pipelines, which transport Russian gas to Europe, to eliminate any future investment interest.
Source: European Pravda
Details: Paula Pinho, chief spokesperson for the European Commission, announced this during a briefing in Brussels on 16 May. The sanctions aim to make the pipelines unattractive to investors.
Quote: "So the idea is to dissuade any interest, and notably interest from investors, in pursuing any activity on Nord Stream also in the future," Pinho said.
Details: Pinho noted that both pipelines are currently non-operational. "In August 2022, Russia suspended the deliveries of gas through Nord Stream 1. And some weeks later, there was an incident, an accident, we don't know exactly, which basically meant that Nord Stream, part of it blew up, and ever since three of the four pipelines are not operational anymore," she said.
Quote: "Why then sanction this? Because you don't know what can happen. Nord Stream 1 could be repaired. Nord Stream 2 could theoretically be licensed," Pinho added.
Background:
Ursula von der Leyen, President of the European Commission, stated that a new EU sanctions package against Russia, aimed at increasing pressure on Kremlin ruler Vladimir Putin, may target Nord Stream 1 and Nord Stream 2.
A summit of the European Political Community in Albania on 16 May is expected to focus on significantly tightening sanctions against Moscow.
European Pravda reported that the European Union may impose sanctions on the consortium operating the Nord Stream 2 gas pipeline if Russia fails to start a ceasefire as planned.
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