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Work On Nordstream II Resumes 11 Dec, GER Seeks To Avoid US Sanctions

EU-RUSSIA

Russian news outlet Interfax is reporting that work on completing the Nordstream II gas Russo-German gas pipeline is due to resume on 11 December.

  • The news comes as Bloomberg reports that the German gov't may seek to create a state-owned foundation to take control of Nordstream II assets to protect them from any tightening of US sanctions. The US already has sanctions in place for any firm that are working on the pipeline, and Congress is set to approve an escalation in the penalties associated in the near future.
  • The pipeline remains a major sore point between Washington, D.C. and Berlin. Unlikely to improve significantly under a Biden administration. US critical of Germany for relying so heavily on Russian hydrocarbons but does not meet its 2.0% of GDP defence spending criteria as a NATO member state.
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