Nord Stream 2 is doomed due to new US sanctions — Bloomberg



Nord Stream 2 is doomed due to new US sanctions — Bloomberg

The new sanctions will affect insurance and technical certification companies. It will be very difficult to launch the gas pipeline.





The US is preparing additional sanctions against the Russian gas pipeline Nord Stream 2. Russia will not be able to launch it, even if it succeeds in completing it. He will not be able to pass the required certification before starting work, writes Bloomberg.

The cost of the pipeline, which is supposed to connect Russia with Germany, has already reached $11.2 billion. However, the construction of Nord Stream 2 has been frozen for almost a year.

It has now become known that in the United States, representatives of both houses of Congress agreed that the new restrictions will affect insurance and technical certification companies. The new sanctions will be prescribed in an addendum to the bill on the defense budget, which is to be approved by the end of 2020.

Recall that the United States last year imposed sanctions that prevented the construction of the last 160 kilometers of the pipeline.

Allseas Group did not provide its special vessel for laying the Russian pipe at the bottom of the Baltic Sea.

The publication believes that the new sanctions will not allow ship operators to obtain insurance and technical certificates that they will need to work in the waters of Denmark.

“As far as I understand, if the certification of the pipeline is prohibited, it will be very difficult to launch it. Due to the new sanctions, Nord Stream 2 will need to find such a certification agency that would like to be sanctioned,” said Mitch Jennings, senior analyst at Sova Capital.

Prior to that, it became known that the new US sanctions on Nord Stream 2 will affect 120 companies.

It was also reported earlier that partners of Nord Stream 2 have appealed against Poland's fine.





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TAGS: NORD STREAM 2, SANCTIONS

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