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Free AccessGERMANY: Nord Stream II Agreement Raises Ukrainian Ire
The agreement reached yesterday between the United States and Germany on the future of the Nord Stream II gas pipeline between Russian and Germany will lower the prospect of a major falling out between Washington, D.C. and Berlin, but has caused significant disquiet in Kyiv.
- In a joint statement with their Polish counterparts, the Ukrainian foreign ministry stated that the US-German deal "has created political, military and energy threat for Ukraine and Central Europe, while increasing Russia's potential to destabilize the security situation in Europe, perpetuating divisions among NATO and European Union member states."
- The deal ensures that should Russia "use energy as a weapon or commit further aggressive acts against Ukraine." then Berlin will take action at the federal level as well as encourage action by the EU.
- The agreement had to be reached by 19 August, the deadline for the White House has to present to Congress the next sanctions report on NS II. The Biden administration came in for criticism from Russia hawks in Congress earlier in the year when it declined to implement harsh sanctions on firms and individuals in Germany involved in the 98%-complete project.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.