Oct 12, 2020
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Ban "Nord Stream – 2" will be disastrous for Europe

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Russia will not suffer serious losses due to suspension of gas pipeline construction

Refusal from Nord Stream 2 due to US pressure will hit Europe harder than Russia. So says the head of the Center for German Studies at the Institute of Europe of the Russian Academy of Sciences Vladislav Belov.

According to the expert, the Europeans understand that this project will only play into their hands, as well as that the Americans are trying to squeeze the Russians in the blue fuel market in order to sell the EU as much LNG as possible.

Belov noted that Europe will suffer in the first place from the freeze of Nord Stream 2 or the ban on its operation. Thus, two billion euros will be lost, which was spent on the construction of the Eugal gas pipeline - a pipe that will be the receiving infrastructure in Germany and a "branch" from "SP2".

The expert also points out that in the event of an unfavorable development of events, Gazprom's European partners will lose a lot. After all, a Russian company can declare a force majeure.

As Belov told Economy Today, the German company Uniper has already said that it may write off 850 million euros of investments.

He added that Berlin will not revoke permits for the construction of the pipeline. After all, then it will turn out that Germany refuses the gas pipeline for political reasons, which will provoke an unprecedented scandal, which the Germans do not want.

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