West of England and Steamship Mutual Clubs have observed that the new US administration has issued a stark warning to entities involved in Nord Stream 2, the new pipeline that will connect Russia and Ukraine to Germany.
US Secretary of State Antony Blinken said on March 18th that “as the President has said, Nord Stream 2 is a bad deal — for Germany, for Ukraine, and for our Central and Eastern European allies and partners. The Department is tracking efforts to complete the Nord Stream 2 pipeline and is evaluating information regarding entities that appear to be involved.”
Emphasizing that President Biden had no plans to reverse the policy under the previous Republican administration, Blinken went on to say that “as multiple US administrations have made clear, this pipeline is a Russian geopolitical project intended to divide Europe and weaken European energy security. The sanctions legislation Congress passed in 2019 and expanded in 2020 has significant support from a bipartisan Congressional majority.”
He said that the Biden Administration was “committed to complying with that legislation”.
The State Department reiterated its warning that any entity involved in the Nord Stream 2 pipeline risked US sanctions and should immediately abandon work on the pipeline.
All West Members were, again, strongly urged to assess and mitigate the risks of entering into contracts on these projects and to “exercise the fullest possible due diligence to avoid exposure to sanctions or enforcement actions”.