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Economics & Business News

US sanctions will not affect Schroeder, who chairs the committee of shareholders of Nord Stream AG

Sanctions against the operator of Nord Stream 2 will not affect former German Chancellor Gerhard Schroeder. It is reported by Reuters, citing sources in the White House.

According to them, the restrictions will not affect Schroeder, who has been heading the committee of shareholders of Nord Stream AG since 2005.

Earlier, US President Joe Biden announced the imposition of sanctions against Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, and its management.

According to Biden, "through his actions, President Putin has given the world an irresistible incentive to abandon Russian gas." He added that Washington would not hesitate to decide on further sanctions in the event of an escalation.

Earlier, the German Ministry of Economics suspended the certification process for Nord Stream 2. It is noted that the corresponding decision was made against the backdrop of the situation around Ukraine.

German Chancellor Olaf Scholz said he asked the Federal Ministry of Economics to withdraw the report on energy security from the Federal Grid Agency. He assured that this step does not allow Nord Stream 2 to receive a certificate and be launched.

US sanctions will not affect Schroeder, who chairs the committee of shareholders of Nord Stream AG