The joint Russian-European Nord Stream 2 gas pipeline has been completed and prepared to start pumping gas from Russia to Germany along the bottom of the Baltic Sea. However, the dual pipeline system awaits in vain the approval of German and European regulators, who have threatened to put off certification until well into next year.
The price of natural gas in Europe on Tuesday rose to $1,400 per 1,000 cubic meters after Germany said Russia’s Nord Stream 2 pipeline could not be greenlighted for launch, claiming rising tensions on the Ukrainian border.
What’s next for hundreds of millions of hard-pressed Europeans if Belarus delivers on the threat to cut off gas transit to the EU in the event of further provocations by the Bloc’s unelected leadership?
Give-and-take measures introduced by the Kremlin in response to the European Union’s anti-Russian sanctions have severely hit mutual trade between Moscow and Athens, with Greek exports to the country reportedly halved over the past seven years.
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