European Commission Outlines Rationale for Sanctioning Nord Stream Pipelines to Deter Future Investment
The European Union intends to impose sanctions on the operators of the Russian gas transit projects Nord Stream 1 and Nord Stream 2, aiming to discourage any future investor interest in these pipelines, the European Commission’s chief spokesperson Paula Pinheiro announced during a briefing in Brussels on May 16.
The Gaze reports on this with reference to European Pravda.
Adding the Nord Stream pipelines to the EU sanctions list is designed to eliminate their investment appeal entirely, Pinheiro explained.
“The goal is to deter any interest, especially from investors, in any activities related to Nord Stream, now and in the future,” she said.
She reminded that both pipelines are currently inactive: Russia suspended gas deliveries via Nord Stream 1 in August 2022, and shortly thereafter, a sabotage incident critically damaged the infrastructure, rendering three of the four pipelines inoperative. Nord Stream 2, meanwhile, never obtained an operational license and has never been commissioned.
Addressing the question of why sanction non-operational assets, Pinheiro noted, “The future remains uncertain. Nord Stream 1 could potentially be repaired, and Nord Stream 2 might theoretically receive licensing approval.”
This announcement follows earlier remarks by European Commission President Ursula von der Leyen, who indicated that the forthcoming EU sanctions package aimed at intensifying pressure on Russian President Vladimir Putin may include measures targeting both Nord Stream pipelines.
As The Gaze reported earlier, European leaders are intensifying their efforts to pressure Russian leader Vladimir Putin into ending the war against Ukraine, particularly after his refusal to attend direct talks with Ukrainian President Volodymyr Zelenskyy in Turkey, as discussions at the European Political Community summit in Tirana, Albania, on Friday will center on dramatically scaling up sanctions on Moscow, including the possibility of implementing a full trade embargo.