HomeMediaLatest NewsSanctions are not a hindrance: completion of Nord Stream 2 has begun in Danish waters

Sanctions are not a hindrance: completion of Nord Stream 2 has begun in Danish waters

25 January 2021

Belogoryev Alexey M. Deputy Principal Director on Energy Studies, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Deputy Principal Director on Energy Studies at the Institute for Energy and Finance commented to the Internet portal News.ru on participating the Fortuna vessel in the resumption of constructing the Nord Stream 2 gas pipeline.

The ship "Fortuna" in the construction corridor in Danish waters began work on the resumption of constructing the Nord Stream 2 gas pipeline. The work is proceeding in accordance with the received approvals, - the press service of Nord Stream 2 AG told to NEWS.ru.

The current US sanctions cannot stop construction, says Aleksey Belogoryev, Deputy Director on Energy at the Institute for Energy and Finance, and explains that certain legal and organizational schemes for neutralizing these measures have already been found.

At the same time, he admits the possibility of introducing new restrictions by Washington, most likely in the second half of this year. They may no longer be directed to the gas pipeline construction, but to operation, or, which is unlikely, to buyers of gas coming via Nord Stream 2.

The main risks for the gas pipeline are connected precisely with the possible deterioration of Russian-German relations in connection with internal political events in Russia, Alexey Belogoryev notes. According to him, this is much more serious than the US sanctions.

“It is obvious that relations will not get better this year, and Nord Stream 2 is viewed in Europe as the most effective mechanism of pressure on the Russian political elite. In this sense, I would not ignore the resolution of the European Parliament, because in this way a political consensus is being formed. This puts strong pressure on Germany, which faces parliamentary elections and a change of chancellor. This is what should worry most now,” Aleksey Belogoryev says.

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