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US threatens Germany with sanctions over Nord Stream 2 gas pipeline | DW News

Summary:
A dispute between the US and Germany over Russian gas is likely to come to a head this week as US Secretary of State Mike Pompeo embarks on a European tour. The US believes a new pipeline makes Germany too dependent on Russia. There is already one pipeline running under the Baltic Sea. Now a new one, Nord Stream 2, is nearing completion. It's expected to pump some 55 billion cubic meters of gas from Russia to Germany every year. The project has been a major bone of contention between Berlin and Washington. Just last week, US senators threatened to slap sanctions on a Germany's Mukran Port, where essential building materials for the pipeline are stored. That has caused outrage in the port. [embedded content]

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A dispute between the US and Germany over Russian gas is likely to come to a head this week as US Secretary of State Mike Pompeo embarks on a European tour. The US believes a new pipeline makes Germany too dependent on Russia. There is already one pipeline running under the Baltic Sea. Now a new one, Nord Stream 2, is nearing completion. It's expected to pump some 55 billion cubic meters of gas from Russia to Germany every year. The project has been a major bone of contention between Berlin and Washington. Just last week, US senators threatened to slap sanctions on a Germany's Mukran Port, where essential building materials for the pipeline are stored. That has caused outrage in the port.




Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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