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US issues fresh sanctions related to Nord Stream 2 pipeline

investing.com 18/12/2024 - 18:25 PM

U.S. Sanctions Target Russia's Nord Stream 2

WASHINGTON (Reuters) – The United States imposed new sanctions on Wednesday against several Russia-based entities involved in the Nord Stream 2 gas pipeline, as stated by the State Department, including measures against the project's operator.

The State Department announced the re-imposition of sanctions on various entities previously designated for their roles in the pipeline's construction, along with sanctions on new owners of already designated vessels.

Targets included Russia-based marine services, a state-owned maritime rescue service, over a dozen vessels, and Nord Stream 2 AG, the project's operator. A Russian insurer that provided coverage to involved companies was also sanctioned.

Vadant Patel, deputy spokesperson for the State Department, emphasized the U.S. stance against Nord Stream 2 as a project serving Russian geopolitical interests. He stated, "We're going to continue to work and ensure that Russia is never able to weaponize its energy resources and its energy positioning for political gain."

Nord Stream 2, constructed under the Baltic Sea by Russia's state-controlled Gazprom to transport natural gas from the Arctic to Germany, suffered damage on September 26, 2022, following Russia's invasion of Ukraine in February. Responsibility for the damage remains claimed by no one.

Even pre-dating the invasion, Washington opposed the project due to its potential to bypass Ukraine, risking significant transit fees and countering efforts against Russian aggression.

While several Western officials speculated that Moscow may have sabotaged its pipelines, this notion was called "idiotic" by President Vladimir Putin. Reports from last year indicated that the U.S. had prior intelligence of a potential Ukrainian plan to attack Nord Stream 2 months before its damage occurred.

Russia has attributed blame for the blasts to the United States, Britain, and Ukraine, all of which have denied involvement, leading to a significant disruption of Russian gas supplies to Europe.




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