The statement reiterated the alliance between the United States and Germany in the fight against Russian aggression and against the climate crisis. The United States has pledged to lift sanctions against German and Russian companies and investors involved in the project. In return, Germany pledges to impose sanctions on Moscow if it misuses the Nord Stream 2 pipeline or any other pipeline as an energy vehicle.
Berlin affirmed in the statement its support for the independence and territorial integrity of Ukraine. In addition, Germany is committed to maintaining Ukraine’s status as a gas transit country. At the same time, Germany is creating a “green fund” for energy transition in Ukraine, in which it invests at least $175 million – about 148 million euros.
The deal aims to prevent Russia from putting too much economic and political pressure on countries in Central and Eastern Europe with Nord Stream 2. The United States has long been an outspoken opponent of the project because it would increase Europe’s dependence on Russian gas. In addition, the new pipeline will supply gas directly from Russia to Germany. As a result, pipelines passing through Poland and Ukraine will be used less and these countries will lose a lot of money in transit fees.
Nord Stream 2 extends from Russia to Germany across the bottom of the Baltic Sea. The initiative of the Russian gas company Gazprom cost an estimated 10 billion euros. Completion of the project is imminent, but has so far remained uncertain due to US opposition.
Like other proponents, German Chancellor Angela Merkel sees the pipeline as essential to Europe’s energy needs. In addition, Germany has significant economic interests in the project. President Biden, who seeks rapprochement with Europe and especially Germany, modified the US position on Nord Stream 2. Last week, Biden expressed his concerns about the project during a meeting with Merkel, but also indicated that Germany would not continue production. to be punished for her position.
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