North Stream-2 can be funded by the Russian Federation in the event of US sanctions

According to the Nord Stream 2, Russia, Russia has a sufficient supply of liquidity to proceed with the implementation of the gas pipeline project without Western investments.

The construction of the North Stream-2 gas pipeline, which will connect directly to Russia and Germany, can be financed even if Washington imposes sanctions against European companies involved in the project. This was the financial director of Nord Stream 2 Paul Corcoran in an interview with Welt Am Sonntag, which the publication published on Sunday, July 1.

“The project will certainly be financed. This is important for Gazprom, and Russia currently has a high liquidity supply in the euro, ”Corcoran emphasized. According to him, the initiative, if necessary, can be implemented without Western investments.

Comment on this score from the Russian Corporation Gazprom was not received at the time of writing the material.

There are no preliminary guarantees

The Ministry of Economics and Energy of Germany has not previously confirmed the message that Berlin received preliminary guarantees of non-proliferation of US sanctions in relation to Russia for the North Stream-2 gas pipeline project. The representative of the Ministry of Beat Baron reported in response to a DW request. According to her, the situation remains the same and nothing new in this matter happened.

Gazprom initiative and its European partners

In addition to the Russian Gazprom, a number of European firms, including the Austrian concern of OMV, participate in the implementation of the disputed project “North Stream-2”. To date, eight investors have been provided for the construction of a gas pipeline, which will have to be connected by Russian Ust-Luga and German Graifswald, an amount of 4 billion euros. The total length of the gas pipeline, which is supposed to be laid parallel to the first “northern stream”, should be 1220 kilometers.