LAST UPDATE 14.43
German Chancellor Olaf Solz announced the “freezing” of the Nord Stream 2 gas pipeline with Russia, after Putin yesterday officially recognized the secessionist regions in Eastern Ukraine.
“We need to reassess the situation, especially with regard to Nord Stream 2,” Soltz told a news conference with his Irish counterpart.
Solz stressed that he has instructed the Ministry of Economy to withdraw a security report on the supply, which is necessary for the pipeline certification process to proceed.
“This sounds technical but it is the necessary administrative step so that the pipeline is not certified at the moment,” said the German Chancellor.
“Without this certification, Nord Stream 2 cannot be launched,” he added.
“The competent services of the Ministry of Economy will carry out a new assessment of security of supply in the light of what has changed in recent days.”
The response of the German Minister of Economy R. Habeck was immediate, who announced that the report on the security of the pipeline supply has already been withdrawn, due to the geopolitical situation.
Europe’s most divisive energy project, Nord Stream 2, is designed to double the amount of gas flowing from Russia directly to Germany, bypassing the traditional transit country, Ukraine, at the bottom of the Baltic Sea.
It has faced strong resistance from within the European Union, from the United States and from Ukraine, arguing that it is increasing Europe’s energy dependence on Russia, denying transit fees to Ukraine and making it more vulnerable to Russian invasion.
The German government has long stated that Nord Stream 2 was primarily a commercial project that diversified Europe’s energy supply.
It is recalled that Europe’s largest economy depends on Russia for about half of its energy needs.
Last fall, when the Nord Stream 2 licensing was blocked again, the Russian side responded by reducing gas flows to Europe.
In fact, this move had a decisive contribution to the escalation of the energy crisis and to the increase in gas prices, which are still maintained at high levels.
Russia’s Deputy Foreign Minister Andrey Rudenko has downplayed Germany’s move to “freeze” the certification of the Nord Stream 2 gas pipeline, saying Moscow was not afraid of anything, according to the TASS news agency.
Meanwhile, Ukraine welcomed the “freezing” of the pipeline, Ukrainian Foreign Minister Dmitry Kuleba told Reuters. “This is a morally, politically and practically correct step in the current circumstances. Real leadership means difficult decisions in difficult times. Germany’s move proves just that,” Kuleba wrote on Twitter.
Read also:
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
