German Uniper may withdraw from Nord Stream 2 project

German Uniper may withdraw from Nord Stream 2 project
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The German company Uniper, which is one of Gazprom's European partners taking part in the Nord Stream 2 construction, may abandon the project in case the United States impose sanctions, TASS reports on Wednesday.

“Of course, Uniper cannot risk that we will really be subjected to US sanctions, in which case we would be excluded from the payment turnover and could no longer use the US dollar in trading operations”, the member of the Uniper Management Board, Christopher Delbruck, told reporters.

He has noted that these are the things which Uniper basically cannot admit. “We still hope that all parties will act rationally in this situation”, Delbruck said.

The United States demand that European countries abandon the Nord Stream 2 project, threatening sanctions for those who will disobey. As a substitute for the Russian gas, the US is offering to sell its LNG and build terminals in Europe.

The law approved by US President Donald Trump came into effect in 2017. In particular, the document suggests that the president will be able to impose sanctions on those investing over $5 mln annually or $1 mln at a time in building Russian export pipelines. Apart from that, the law envisages that the US will further oppose the Nord Stream 2 project.