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Industrial Valve Summit

Biden has waived sanctions on Nord Stream 2 pipeline

inNews 2021 oil&gas

Biden has waived sanctions on Nord Stream 2 pipeline

President Joe Biden has waived sanctions on controversial gas pipeline between Russia and Germany. The US also lifted sanctions on the executive – an ally of Russia’s Vladimir Putin, who leads the firm behind the Nord Stream 2 project. Biden’s change in stance from Donald Trump’s fierce opposition to the pipeline means Nord Stream 2 will likely get finished as soon as this year. But the sanctions left in place could make it hard to gain all the necessary approvals to start operations. This year’s German election, where the Green Party are contenders to lead the next government, also clouds the picture. “It’s not the end of the story,” said Kirsten Westphal, a senior analyst at the German Institute for International and Security Affairs. “The question is now when and how the pipeline will be operating, what volumes of which supplier will come through it.”

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