- Sanctions Waiver on Nearly Ready Pipeline 'Smart' Favor to Both Berlin, Moscow - US Expert
Sanctions Waiver On Nearly Ready Pipeline 'Smart' Favor To Both Berlin, Moscow - US Expert
Faizan Hashmi 1 month ago Fri 21st May 2021 | 11:02 PM
The Biden administration waiving some of the sanctions against the Nord Stream 2 gas pipeline looks like a clever move to show goodwill to both Germany and Russia as the project draws closer to completion, Art Franczek, the president of the Moscow-based American Institute of Business and Economics, told Sputnik on Friday
ST. PETERSBURG (UrduPoint News / Sputnik - 21st May, 2021) The Biden administration waiving some of the sanctions against the Nord Stream 2 gas pipeline looks like a clever move to show goodwill to both Germany and Russia as the project draws closer to completion, Art Franczek, the president of the Moscow-based American Institute of business and Economics, told Sputnik on Friday.
The US administration announced on Wednesday that it would waive sanctions on Swiss-based Nord Stream 2 AG and its chief executive, Matthias Warnig. Berlin, which in the past condemned Washington's attempts to disrupt the pipeline's construction, has welcomed the move.
"Finally, something has happened that is almost good. They have about 10 percent to go and the North Stream will be completed, it looks like that. We all knew this anyway, that is why it was a smart move as now Biden has done something good to tell to his allies in Germany, and he has got actually something good to tell the Russians," Franczek said.
According to the expert, the gesture may indicate that Washington may want to decrease tension in its relations with Moscow, which may reciprocate by settling the fraud case involving US investor Michael Calvey, who is currently under house arrest in Russia.
"What I think we may hear that the Russians make a deal with Calvey. They may do something to soften the relationships. I have no proof for that yet but we might have seen some indications of it. This would make a big difference. This would be a nice gesture on Russia's behalf," Franczek suggested.
The Nord Stream 2 project 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 through the territorial waters or exclusive economic zones of Denmark, Finland, Germany, Russia and Sweden.
The United States has been a consistent opponent to the project, as well as Berlin's alleged dependence on Russian natural resources. In 2019, the US initiated sanctions against the project, prompting Swiss pipelay company Allseas to withdraw from the project. After a one-year hiatus, the construction was resumed in December 2020 by Russian pipe-laying vessel Fortuna, which was joined by another pipe layer Akademik Cherskiy in late April.