EU considers sanctions on Nord Stream 2 as Russia delays ceasefire
If Russia does not agree to an unconditional 30-day ceasefire, the European Commission is considering imposing sanctions on the Nord Stream 2 consortium, European Commission spokesperson Paula Pinho announced on Monday. She added that the pipeline is currently inactive, though she noted that anything could happen.
Pinho stated that during a video call with the coalition of the willing on Saturday, European Commission Chair Ursula von der Leyen indicated that imposing sanctions on the Nord Stream 2 consortium is among the options being considered.
EU discusses potential new sanctions
Prime Minister Donald Tusk, French President Emmanuel Macron, German Chancellor Friedrich Merz, UK Prime Minister Keir Starmer, and Ukrainian President Volodymyr Zelensky gathered on Saturday in Kyiv to call on Russia to implement an unconditional ceasefire starting from Monday, May 12, for 30 days and to engage in peace talks. They threatened massive sanctions if Russia does not comply. This initiative was supported by leaders from approximately 30 countries in the "coalition of the willing," who joined the meeting online. The conversation also included von der Leyen.
Pinho emphasized that while Nord Stream 2 is not currently operational, its future remains uncertain. He added that sanctioning anyone linked to the Nord Stream consortium would send a strong message that investing in the project is not a viable option.
The Nord Stream 2 AG consortium, fully owned by Russia's Gazprom, is headquartered in Switzerland. The company was responsible for completing the Baltic Sea pipeline that connects Russia and Germany. It was also supposed to operate the pipeline, but due to Russia's invasion of Ukraine in 2022, the pipeline was never launched.
On Friday, a Swiss court announced that the company reached an agreement with its creditors and agreed to restructuring. This way, the consortium avoided bankruptcy. The Swiss court's ruling is not final, allowing for the possibility of appeal.
According to reports from American media, the United States is considering lifting sanctions on Nord Stream 2. According to Politico's findings, President Donald Trump's Middle East envoy and his friend Steve Witkoff are lobbying for such a solution. Opponents in the White House argue that this could impact American exporters of liquefied natural gas (LNG) to Europe.
Peace talks between Russia and Ukraine
On Sunday, Russian leader Vladimir Putin proposed to Ukraine to resume direct peace talks without preconditions. According to his statements, these talks could take place on May 15 in Istanbul. In response, the Ukrainian President expressed his expectation that Russia would agree to a complete and permanent ceasefire from Monday. He declared that he would personally wait for Putin in Turkey on Thursday.
The European Union is finalizing work on its 17th sanctions package against Russia. On Monday, EU ambassadors discussed the EC's proposal from last week for the second time. They agreed to the Polish presidency's proposal in the EU Council to increase the number of Russian ships subject to restrictions from the so-called shadow fleet to 200. EU diplomats expect an agreement on this matter by Wednesday, while a final decision may be made by foreign ministers at a meeting in Brussels.
