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US, Germany to announce deal on Nord Stream 2 pipeline in coming days -sources
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WASHINGTON – The United States and Germany are expected to announce in coming days a deal resolving their long-standing dispute over Russia's $11 billion Nord Stream 2 natural gas pipeline, sources familiar with the matter said on Monday.
President Joe Biden and German Chancellor Angela Merkel failed to settle their differences over the undersea pipeline when they met last week, but agreed Moscow must not be allowed to use energy as a weapon against its neighbors.
A deal is now in sight after discussions among U.S. and German officials about U.S. concerns that the pipeline, which is 98% complete, will increase Europe's dependence on Russian gas, and could rob Ukraine of the transit fees it now collects on gas pumped through an existing pipeline.
BIDEN-PUTIN GENEVA MEETING TO FOCUS ON CYBER-HACKING TENSIONS, NORD STREAM 2 PIPELINE
An agreement would avert the resumption of currently waived U.S. sanctions against Nord Stream 2 AG, the company behind the pipeline, and its chief executive.
Details were not immediately available, but the sources said the deal would include commitments by both sides to ensure increased investment in Ukraine's energy sector to offset any negative fallout from the new pipeline, which will bring gas from the Arctic to Germany under the Baltic Sea.