According to Rick Perry, the U.S. Energy Secretary, the U.S. is preparing a set of sanctions against the companies participating in the Nord Stream 2 project backed by Germany and Russia. President Trump has been against the building of the gas pipeline, which started in 2015 and is expected to be completed later this year and will increase Germany’s reliance on Russian gas exports.
The sanctions will be ready soon and will impose punitive restrictions on all companies involved in the project. The Nord Stream 2 project is supported by Germany, which has touted it as the solution to securing Europe’s growing energy needs given Russia’s massive natural gas resources. However, other European countries neighboring Russia and along the Baltic Sea have opposed the project saying it’s a security threat.
Many of the project’s opponents say that the new pipeline will make the European Union extremely dependent on one gas supplier, which in this case is Russia, which is a long-term enemy of the U.S. Critics say that Russia could use the pipeline to hold European countries hostage by cutting off gas supplies in case of diplomatic spats or other confrontations.