18.05.2021

Russia itself may finance Nord Stream-2

The construction of the Nord Stream-2 gas pipeline will be financed even if the United States imposes sanctions on European companies involved in the project, said Nord Corp. CFO.

“The project will certainly be funded. This is important for Gazprom. And Russia has a high liquidity reserve in euros, ”Korkoran emphasized, Interfax reports. The project, if necessary, can be carried out without Western investment.

Meanwhile, the German Ministry of Economy and Energy does not confirm the message that Berlin received preliminary guarantees of non-proliferation of US sanctions against Russia on Nord Stream-2, Beate Baron, a ministry spokeswoman, said at the request of the German Wave. According to her, the situation remains the same, and nothing new has happened on this issue.

Apart from Gazprom, a number of European companies, including the Austrian OMV, participate in the Nord Stream-2 project. Eight investors provided 4 billion euros for the construction of the gas pipeline, Deutsche Welle notes. The total length of the gas pipeline, which is supposed to be laid parallel to the Nord Stream, will be 1220 km.

Denmark intends to block Nord Stream 2

Danish authorities intend to hinder the construction of the Nord Stream-2 gas pipeline, said Prime Minister Lars Lücke Rasmussen. Bills have been submitted to the Danish Parliament that will veto or delay the implementation of the project.

“My position is that this project has a geopolitical, European component and Denmark itself cannot solve the issue. We have not decided when to make a final decision. And, in fact, it is very difficult to predict, ”Rasmussen said, RIA Novosti reported.

Rasmussen proposed bringing the discussion of the project to the pan-European level with the goal of seriously and carefully considering all the risks and the role of Ukraine as a fuel transit.

The Nord Stream-2 project involves the laying of two pipelines of a gas pipeline with a total capacity of 55 billion cubic meters. m per year from the Russian coast along the bottom of the Baltic Sea to the coast of Germany. Building permits have already been issued by Germany, Finland and Sweden. Nord Stream 2 AG (project operator) will have to get Danish consent.

The project is opposed by Ukraine, fearing to lose revenues from the transit of Russian gas, and the United States, promoting plans to export its LNG to Europe. Latvia, Lithuania and Poland do not approve the construction of Nord Stream-2.

Merkel warned Trump about the answer to import tariffs

German Chancellor Angela Merkel warned US President Donald Trump about unleashing a total trade war after his threats to introduce large tariffs on car imports from the EU.

Both sides have already become parties to trade frictions since Trump imposed duties on steel and aluminum, Merkel said, adding that it is necessary “to prevent this conflict from becoming a real war.”

Trump said on Sunday that Europe “could be as bad as China” in trade, as he confirmed that he was considering introducing 25% tariffs on car imports from the EU.

The EU will introduce tariffs on US iconic products, including bourbon, jeans and Harley-Davidson motorcycles, as a symbolic response to metal duties.

Referring to Trump’s complaints that the EU and Germany in particular have a large trade surplus with the United States, Merkel said Trump’s calculations are incorrect, as they are based only on goods and not on services.

“If you include services such as digital services, then you have a completely different trade balance with the United States, showing a surplus against the EU,” she said.

“It’s almost old-fashioned to include in the calculations only goods, not services,” Merkel told parliament.

Earlier, Merkel announced her support for the “digital tax,” which will target multinationals such as Amazon, Facebook, or Google, which have been criticized for shifting revenue across Europe to pay lower taxes.

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