Published 09:57 IST, December 22nd 2019
EU opposes the sanctions placed on Russian Nord Stream 2 pipeline by the US
The EU opposes the sanctions placed by the US on the Russian Nord Stream 2 pipeline; the pipeline will connect Russia to Germany and is crucial to Germany
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European Union voiced its opposition to US sanctions against companies that will be involved in building of Russian gas pipeline to Germany. An EU spokesperson said that as a principle EU will always oppose any sanctions or outside interference wit EU companies that are conducting legitimate business.
Pipeline necessary for Germany
Sanctions against Russian pipeline was signed on Friday by US President Donald Trump. rd Stream 2 pipeline's estimated worth is 10 billion Euros and will run under Baltic sea. project is estimated to double natural gas deliveries to European Union's leing ecomy, Germany. US believes that new pipeline will greatly enrich a hostile Russia and increase influence of President Vlimir Putin. se sanctions come during a time when re are heightened tensions in continent according to US lawmakers.
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US sanction comes just a mere days after EU mand to broker a deal between Russia and Ukraine regarding transit of Natural Gas. Russia supplies almost 18 per cent of EU's natural gas, this pipeline is thus a very important endeavour.
decision to impose sanctions was overwhelmingly approved by both House of Congress which sent measure to Trump for his signature. sanctions were a part of a much larger bill that allocated some 700 billion euros for Pentagon. bill also included funding for Trump's Force.
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Chamber of Commerce of both Russia and Germany have agreed that pipeline is essential for energy security and have vowed to issue retaliatory sanctions against United States. One of likely targets of sanctions will be Allseas that has been hired to build offshore section of Pipeline. Swiss-based company has alrey anunced that it will be suspending all rd Stream 2 pipelay activities.
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00:50 IST, December 22nd 2019