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US slaps sanctions on companies tied to Nord Stream 2 in bid to squeeze Russia
By Breanne Deppisch
Published December 18, 2024
The U.S. on Wednesday issued fresh sanctions against several Russian-linked entities and individuals involved in the building of Nord Stream 2, the massive undersea gas pipeline linking Russia to Germany.
The State Department said it has re-imposed financial penalties against entities and individuals involved in the construction of Nord Stream 2, including project operator, Nord Stream 2 AG, and a Russian-based insurer that worked with companies involved in the pipeline's construction.
Others included in the sanctions were a Russian-owned maritime rescue service, a Russian-based water transport logistics company, and more than a dozen vessel owners that were either formerly under sanctions designations or were being sanctioned for the first time.
State Department deputy spokesperson Vedant Patel told reporters Wednesday that the U.S. remains opposed to Nord Stream 2 as well as any efforts to revive it.
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President Biden (AP Photo/Evan Vucci/File)
Officials also cited Russia’s ongoing efforts to weaponize its energy resources, including throttling its piped gas supplies to Europe shortly after the start of its war in Ukraine in 2022.
"We're going to continue to work and ensure that Russia is never able to weaponize its energy resources and its energy positioning for political gain," Patel said of the new sanctions.
News of the new sanctions designations comes after both the Nord Stream 1 and 2 gas pipelines linking Russia to Europe were hit by a series of explosions in late September 2022.
Russian President Vladimir Putin speaks at the Kremlin. (Sergei Karpukhin/TASS/Sipa USA/File)
To date, no one has taken responsibility for the blasts, which U.S. and other Western leaders have described as an act of potential "sabotage."
Russia has dismissed suggestions that it would blow up its own pipeline, with Russian President Vladimir Putin describing such a move as "idiotic."
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The receiving station for the Nord Stream 1 natural gas pipeline is seen near Lubmin, Germany. (Sean Gallup/Getty Images/File)
Though neither pipeline was operational at the time, both lines were filled with gas under pressure.
Prior to Russia's war in Ukraine, the Nord Stream 1 pipeline had supplied roughly 35% of the European Union’s total Russian gas imports before Moscow halted supplies indefinitely citing "maintenance" needs. Nord Stream 2 was expected to double that capacity.
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In the years since Russia’s war in Ukraine began, the EU has scrambled to offset its reliance on Russian energy supplies, including by purchasing more liquefied natural gas from the U.S. and other suppliers, by devoting more resources toward nuclear power and by building more regasification terminals, among other things.
https://www.foxnews.com/politics/us-slaps-sanctions-companies-tied-nord-stream-2-bid-squeeze-russia