German Firms In Russia Optimistic About US-Germany Deal On Nord Stream 2 - Trade Chamber

German Firms in Russia Optimistic About US-Germany Deal on Nord Stream 2 - Trade Chamber

MOSCOW (UrduPoint News / Sputnik - 22nd July, 2021) German companies operating in Russia are relieved and optimistic over Washington's decision to refrain from imposing extraterritorial sanctions against the Nord Stream 2 gas project, the Russian-German Chamber of Foreign Trade said on Wednesday.

Earlier in the day, Germany and the United States published a joint statement, in which they outlined their position regarding European energy security and common goals for climate protection, including a number of conditions for the unhindered operation of the Russia-led Nord Stream 2.

"German businesses in Russia have received with relief and optimism the US decision to abandon extraterritorial sanctions against such an important Russia-Europe project as Nord Stream 2," the chamber said in a statement.

Rainer Seele, the chamber's president, described the recent developments as a "good sign," noting the importance of green energy cooperation with Russia in light of the so-called European Green Deal, which aims to cut carbon emissions and build a resource-efficient and eco-friendly economy.

According to the chamber's latest poll, Nord Stream 2 enjoys overwhelming support among German businesses working in Russia, with 94% of respondents considering it important and even irreplaceable for Europe's mid - and long-term energy supply. Another 97% spoke in favor of completing the pipeline's construction.

The project, which aims to lay a 745-mile-long offshore twin pipeline that will carry up to 1.9 trillion cubic feet of gas per year from Russia to Germany, is currently at its final stretch.

The United States has stood in opposition to the project since its beginning in 2012, but the decision to allow for its completion comes as Washington turns its focus toward establishing closer ties with European partners such as Germany.