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Problems with the Nord Stream-2 continue in the new year


Janvier, 04 2022
watermark Economic news

Russian Deputy Foreign Minister Alexander Pankin said that the process of certification of the Nord Stream-2 gas pipeline may be delayed until the summer. He also noted that the regulations of the project certification procedure allow not just to delay, but to stretch the process for many months. At the same time, the whole process can be significantly complicated by the United States.


The Russian diplomat suggested that the Americans could prevent the certification of the gas pipeline or prohibit Germany from buying Russian gas via the Nord Stream 2. 


Currently, the German Federal Grid Agency has suspended the certification procedure for the gas pipeline. The fact is that European legislation requires the project operator (Nord Stream 2 AG) to create a subsidiary in Germany, on behalf of which a new application for certification must be submitted. Only after that the certification process will be resumed. 


To date, the United States and Ukraine actively oppose Nord Stream 2, considering the project a means of political pressure. However, Russia continues to insist that Nord Stream 2 is a commercial project, and it is also beneficial to European partners.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.