POST Online Media Lite Edition


Germany may have found loophole to dodge U.S. sanctions against Nord Stream 2

Christian Fernsby |
Germany may create a special fund to bypass restrictions imposed by the U.S. government on the Russian project Nord Stream 2, Bild tabloid has reported, quoting unnamed sources.

Article continues below

Topics: GERMANY   

The slush fund is aimed at tackling the problems of climate change, and may identify the project as the most important element of environmental protection.

The measure is reportedly being considered by local authorities in the German state of Mecklenburg Vorpommern.

Under the plan, the state government would reportedly launch an enterprise whose products and services would be used only for completing the construction of the Nord Stream 2 pipeline.

The fund would provide German firms with an opportunity to supply services to the Russian side.

Technically, German companies won't cooperate with the Nord Stream 2 project, led by Russian energy giant Gazprom, and therefore won't become subject to the U.S. sanctions.

What to read next

Gazprom: Denmark may have to compensate for Nord Stream 2 delay
Nord Stream 2 construction begins in Sweden’s exclusive economic zone
Denmark considering new Nord stream 2 permit