The United States recognized that sanctions will not stop the «Nord stream — 2», said experts

© Photo : Nord Stream 2 / Axel SchmidtСудно Solitaire during the work on laying of gas pipelines Nord stream-2 in the Gulf. 5 Sep 2018. Archive photoThe United States recognized that sanctions will not stop the «Nord stream — 2», said experts© Photo : Nord Stream 2 / Axel Schmidt

The statement of the President of the United States Donald trump on the «Nord stream-2» can be regarded as recognition of Washington that the sanctions are unlikely to stop the implementation of the project «Gazprom» and its European partners, according to respondents RIA Novosti experts.

On Tuesday, the trump in the course of communication with journalists after meeting with Polish President said that the US does not plan to impose sanctions against companies involved in the construction of «Nord stream-2».

«US sanctions would not stop, and certainly not banned the project. So I regard this statement as a necessary step, which is intended to prevent a deep and sharp crisis in U.S. relations with the EU. This statement says even unpleasant for Washington, but the objective reality», — commented on trump’s Deputy General Director for gas projects of national energy security Fund Alexei Grivach.

The threat of US sanctions

The project «Northern stream-2» involves the construction of two pipelines with a total capacity of 55 billion cubic meters of gas off the coast of Russia through the Baltic sea to Germany. The new pipeline is planned to be build next to the existing «Northern stream». It will pass through the territorial sea or the exclusive economic zone of the countries located along the shores of the Baltic sea — Russia, Finland, Sweden, Denmark and Germany. Of these countries, the company 2 the Nord Stream AG, the operator of the «Nord stream-2», left to obtain a construction permit only from Denmark.

The sole shareholder of Nord Stream AG 2 is «Gazprom». European partners — Shell, OMV, Engie, Uniper and Wintershall — have committed to financing the «Nord stream-2» in total 50%, ie 950 million euros each. «Gazprom» will provide the other half of the funds to 4.75 billion euros. The participants of the project plan 70% of investments to be covered by project Finance.

Against the implementation of the «Nord stream-2» is the number of countries, in particular Ukraine, which fears to lose the income from the transit of Russian gas, and the United States with ambitious plans for exports to Europe of its LNG. In addition, Latvia, Lithuania and Poland jointly stated that they do not approve of the construction. Their leaders believe that it is a political project.

Representatives of the U.S. government, in turn, has repeatedly stated that they intend to oppose the implementation of the «Nord stream-2». Sounded statements about the possibility of sanctions against the participants of the project.

So, in early September, the Minister of energy of the USA Rick Perry said the United States is planning to impose additional sanctions against Russia’s energy sector, as well as against the «Nord stream-2». He noted that this is due, in particular, with the issue of transit of Russian gas through Ukraine. In addition, according to him, the introduction of U.S. sanctions against the «Nord stream-2» will depend on the efforts of the Russian Federation on implementation of the Minsk agreements and Russia’s relations with its neighbors.

«Now the sanctions would just be such a slap in the face to our European colleagues, the United States and wonder, why? What would they gain from this? It is obvious that the remaining money «Gazprom» may have put himself and still finish the project. That is, it would result from this would be no no. So trump talks about obvious that they will not have anything more to enter,» said Pravosudov.

At the same time, Grivach said that trump’s statement is unlikely to be regarded as a complete failure of the US counter implementation of the «Nord stream-2». «I don’t think it will stop the counter-project from the United States and their satellites in Europe on the diplomatic and political levels. In addition, it is possible that this will be the reason for a new round antithrombosis campaign in Washington and attempts to impose sanctions and bypass it through Congress,» — said the expert.

Group Director natural resources and commodities, Fitch ratings Dmitry marinchenko also believes that to completely eliminate the risk of sanctions after the trump is not, although they significantly reduce it. But the expert stressed that even if the imposition of sanctions substantially unlikely to affect the implementation of the project.

«Trump’s words… have to give extra comfort as Gazprom and its European partners, involved in the construction of the pipeline, and Germany, the chief European lobbyist for the project. However, the sanctions rhetoric, most likely, will accompany the «Nord stream-2″ to the launch. Sanctions in some form may still appear, but they are unlikely to prevent the implementation of the project, especially when the construction of the underwater part has already begun,» he said.

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