Citation :
Biden to waive sanctions on firm in charge of Nord Stream 2 - Axios
May 18, 2021 2:56 PM ETPublic Joint Stock Company Gazprom (OGZPY)By: Carl Surran, SA News Editor22 Comments
The U.S. will waive sanctions on the corporate entity and CEO overseeing the construction of the Nord Stream 2 pipeline, which would indicate that the Biden administration is not willing to rupture its relationship with Germany over the pipeline, Axios reports.
The State Department soon will send its mandatory 90-day report to Congress listing entities involved in Nord Stream 2 that deserve sanctions, but it will call for sanctions only against a handful of Russian ships, according to the report.
The Gazprom-led (OTCPK:OGZPY) project includes western partners Royal Dutch Shell (RDS.A, RDS.B), BASF's (OTCQX:BASFY) Wintershall, Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY).
The pipeline could be finished by late summer without a major intervention to stop it; Germany's federal maritime regulator just issued a ruling allowing work on the project to proceed in German waters.
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