The European Union is moving closer to a decision to include the Nord Stream 2 pipeline in a new package of sanctions against Moscow, amid growing speculation that Russian gas supplies, which the bloc wants to stop, will resume, Bloomberg reported.
The European Commission is set to begin consultations with member states in the coming days on whether to ban the Nord Stream 2 pipeline, which connects Germany and Russia via the Baltic Sea, and a decision will take into account the latest developments in talks to end the war in Ukraine, several sources familiar with the matter told Bloomberg.
Importantly, the bloc’s plan has the support of Germany. German Chancellor Friedrich Merz, who last week said he supported the “Commission’s proposal to start work on European measures against the Nord Stream 2 pipeline,” hopes this will calm political debates in Germany about a possible reopening of the pipeline, the sources said.
Rumors about a possible reopening of the pipeline have been rife this year after US President Donald Trump tried to broker a peace deal between Russia and Ukraine. Even without a formal ban, the activation of Nord Stream 2, which was built but did not receive official operating authorization from Germany and was partially damaged by a series of explosions in September 2022, is unlikely to take place anytime soon, according to Agerpres.
Sanctions would give even more weight to Europe’s clear position that it does not intend to return to significant supplies of Russian gas through pipelines. A ban would also protect Berlin from potential pressure from the United States and Russia.
“It’s a political move, designed to cement the EU’s plan to eliminate Russian gas imports by 2027. Political clarity should also remove some of the volatility in the gas market that has been linked to the occasional discussions about Russian gas supplies,” said Florence Schmit, an energy analyst at Rabobank.
As part of their efforts to stop the war, U.S. officials have in recent months raised a number of global energy projects as possible areas for cooperation with their Russian counterparts. In those talks, Russian gas giant Gazprom has expressed a desire for the United States to help reopen the Nord Stream pipeline.