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Germany suspends billion-dollar Nord Stream 2 pipeline with Russia

After Russian President Vladimir Putin announced the move to recognize the separatist-controlled regions of Donetsk and Luhansk in Eastern Ukraine, Germany announced the move to suspend the Nord Stream 2 pipeline project. Earlier, in December, the German chancellor, Olaf Scholz, contemplated the latest natural gas pipeline, which is connecting Russia to the German shoreline, a strictly “private-sector project” that had no part in the political argument. In January, Scholz objected, when asked if he would echo President Joe Biden’s declaration that the Nord Stream 2 project would be terminated if Russia conquered Ukraine.

Barely hours after Vladimir Putin, the President of Russia ordered Russian armed forces to cross the frontier into dissident regions in eastern Ukraine, German chancellor Scholz made it understandable that he was prepared to oblate the private sector project. This move comes despite Germany facing its worst energy crunch since the 1970s, and with business leaders warning that the high price of fuel could terrorize the industrial prowess of Europe’s massive economy.

Germany has declined to put at risk its energy trade with Russia when acknowledging Moscow’s worst excesses because it was relying on Russian natural gas to keep its homes warm and factories administrating. In 2014, after Russia seized Crimea, Berlin ensured that its purchases of gas would not be deranged by any sanctions against Russia, for years. 

Since November, the pipeline’s project approval process has been stalled, awaiting the making of a German-based subordinate for compliance with European laws.

Scholz said, “He had ordered his economy minister, Robert Habeck, to extract the paperwork that judged the pipeline project to be an essential part of Germany’s energy supply, and the acceptance process will now be thrown out, and the economy ministry would have to analyze it afresh before this project can ever go ahead.”

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By TIS Staffer
the authorBy TIS Staffer

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