The European Union and the United Kingdom are preparing sanctions against new Russian gas projects that will be imposed in case of a Russian invasion of Ukraine, media reported.
According to Financial Times, the new set of sanctions is being developed with US support and will be aimed at curtailing financing and technology transfer for future gas projects.
If introduced, these sanctions will affect European giants – such as BP, Total and Shell – which are investing in the Russian energy sector.
The Nord Stream 2 gas pipeline, designed to deliver Russian gas to Germany across the Baltic Sea, has already become hostage to geopolitical tensions between Russia and NATO. Washington has repeatedly accused Moscow of using the pipeline as leverage to make European consumers more dependent on Russian gas, a claim Moscow strongly denies, saying that this is a purely commercial project, which is equally beneficial to Europe.
Earlier this week, US Under Secretary of State Victoria Nuland said that Washington is going to work with Germany to make sure the Nord Stream 2 pipeline does not move forward should Russia “invade” Ukraine.
Over the past few months, the West and Ukraine have accused Russia of concentrating troops near the Ukrainian border in alleged preparation for an invasion. Russia has repeatedly said that it has no intention of invading Ukraine, while stressing that it has the right to move forces within its own territory.