Nord Stream 2 may contribute to financing Russian aggression against Ukraine – PM Shmyhal

REUTERS Ukraine&#39;s Prime Minister Denys Shmyhal has said the launch of the Nord Stream 2 gas pipeline may create economic prerequisites for continued financing of Russian aggression against Ukraine. "The launch of Nord Stream 2, if it comes to this, will not only make us fall several billion euros short in annual income. First, this jeopardizes the EU&#39;s energy security and creates economic prerequisites for continued financing of Russian government&#39;s aggressive action against Ukraine. Therefore, Ukraine supports the sanctions policy against the launch of the gas pipeline," he told the German newspaper Bild in an interview, as reported on the government portal. According to Shmyhal, Kyiv&#39;s position on the project remains unchanged – it is, first of all, a political project that&#39;s initially had no commercial feasibility. That&#39;s because the Ukrainian gas transmission systems is ready to transport over 140 billion cubic meters of gas per year, while 55.8 billion cubic meters of Russian gas went through it to Europe in 2020. Read alsoGermany&#39;s Greens vow to block Nord Stream 2"This is the shortest gas transit route to Europe. Accordingly, this is the cheapest transit price. In addition, Ukraine has always been a reliable transit country," Shmyhal added. Nord Stream 2: Background The Nord Stream 2 project envisages the construction and operation of two gas pipeline branches with a total throughput capacity of 55 billion cubic meters of natural gas per year from the coast of Russia through the Baltic Sea to Germany. It should connect Russia&#39;s Ust-Lug and Germany&#39;s Greifswald. This new pipeline bypassing Ukraine is to be built next to the existing Nord Stream 1 pipeline. The construction of the pipeline was expected to be completed before the end of 2019. The pipeline will be 1,220 km long. The project is being implemented by Russia&#39;s Gazprom in alliance with a number of European companies. Ukraine stands against the project as it will most likely strip the country of its gas transit country status, while potential annual revenue losses are estimated at US$3 billion. The project is also highly criticized by the U.S., Poland, and the Baltic States. The United States is urging European allies and private companies to halt works on Nord Stream 2, and is preparing broader sanctions against the Russian project in the coming weeks. The U.S. Senate approved the National Defense Authorization Act 2021, which provides for new sanctions against Russia&#39;s Nord Stream 2. On January 7, 2021, a fund was established in Germany to support the completion of the Nord Stream 2 project. On January 13, 2021, the U.S. Department of State notified European companies involved in the construction of Nord Stream 2 of the risk of imposing new sanctions. On January 18, 2021, the United States warned allies in Europe about its intention to impose sanctions on the Russian ship Fortuna, which is engaged in the construction of the Nord Stream 2 gas pipeline. On February 22, 2021, the United States imposed new sanctions on the Russian FORTUNA vessel building Nord Stream 2. As of February 23, 2021, eighteen European companies at once refused to partake in completing the construction of Nord Stream 2 over fears of U.S. sanctions. On March 4, 2021, the construction of Nord Stream 2 in Danish waters was extended by late September. On March 14, Executive Vice-President for the European Green Deal Frans Timmermans said that Europe does not need the Nord Stream 2 pipeline. On March 18, Ukrainian President Volodymyr Zelensky branded Russia&#39;s Nord Stream 2 gas pipeline a trap for all countries across Europe.

Nord Stream 2 may contribute to financing Russian aggression against Ukraine – PM Shmyhal

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