Merkel to US -‘ Nord Stream 2 pipeline project is none of your business !’ – by G-N Blog Financial commentator Emil vd H.

Nord Stream opening ceremony on 8 November 2011 with Angela Merkel, Dmitry Medvedev, Mark Rutte and François Fillon. foto

The German Chancellor Angela Merkel has stated very clearly that a proposal from the US Senate which would impose sanctions on Russia could create negative economic results for the European  economy and was therefore unacceptable.

A spokesman for Merkel said sanctions with extra-territorial effects – those having impacts on third countries – were clearly wrong and not thought out.

The German Foreign Minister Gabriel and the Austrian Chancellor Kern, also issued a joint-statement yesterday opposing  the proposed sanctions.

‘Nord Stream 2  is the second of two parallel lines offshore natural gas pipeline from Vyborg in the Russian Federation to Greifswald in Northern Germany. It is owned and operated by Nord Stream AG. The first line was on-line as of November 2011.

The planned, but not-yet-built  €8,9 billion Nord Stream 2 gas pipe-line, would compete directly with US exports of liquefied natural gas to Europe. The US wants to expand its exports of liquid natural gas to Europe, and views the new pipeline as a competitor.

The 1,220 kilometer pipe-line would cut Russia’s reliance on gas transit through Ukraine, and double the capacity to Europe’s largest economy. 

A letter by the US right-wing militarist fruitcake John McCain, to the EU criticized the project in July 2016. The Americans have never liked Russia’s gas partnership with Europe as it limits their own influence and it bypasses the US client state of Ukraine.

This clear difference is just another conflict between the Trump presidency and Germany along with   attacks on Germany’s defense spending, trade surplus, environmental and criticisms of Germany’s global economic co-operation.

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