You forgot to mention that 50% of the funding for Nord Stream 2 pipeline is provided by Germany's Uniper and BASF's Wintershall unit, as well as Anglo-Dutch oil major Shell, Austria's OMV and France's Engie. Sanctioning will hurt investments US allies made in the pipeline.
2. Trump (and former Sec of State Tillerson) opposed Nord Stream 2 pipeline, mirroring objections from McCain, Rubio in 2016. At the time, Isabelle Kocher, CEO of Engie, criticized US sanctions targeting the projects, and said they were an attempt to promote US gas in Europe.
3. German chancellor Angela Merkel is a big supporter of the Nord Stream 2 project and sees the pipeline as a crucial tool in helping wean Germany off coal (40% of Germany’s electricity comes from coal) and nuclear and helping Germany become an “environmental leader”.
4. The proposed Nord Stream2 pipeline, which would bring gas from Russia to Germany under the Baltic Sea, is being fiercely opposed by an unlikely coalition of “environmentalists” and “right-wing” government/figures in the US and Eastern Europe.
5. Their view, just about the only thing they agree on, is that the Nord Stream 2 pipeline will lock Europe into long-term dependence on Russian gas. This is problematic both for efforts by countries such as Germany to fight climate change and for European energy security.
6. If there was no pressure from “environmentalists” to reduce dependence on coal/meet Paris Accord goals, Merkel and her party (Christian Democratic Union) could’ve ditched Nord Stream 2, but she committed to ditch coal instead (used to power factories building BMWs, Porsches…)
7. Merkel’s desperation to get the Nord Stream 2 pipeline built got an unlikely boost from French President Macron (both are tussling for control of EU leadership) - by throwing his weight behind the pipeline, Macron hopes to influence Merkel on Eurozone budget and debt system.
8. A big winner in Nord Stream 2 saga is Putin: He knows Germany (Europe’s biggest economic engine produces very little energy domestically and is dependent on imports for 98% of its oil; 92% gas) needs to get off coal and he has just the solution: natural gas + oil from Russia.
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