How US sanctions will stop the Nord Stream 2: Kobolev’s explanation

Special equipment and insurance nuances of companies that get hit by US sanctions will create significant problems and will be able to stop the construction of the Russian Nord Stream 2 gas pipeline. And this will strengthen the negotiating position of Ukraine regarding the transit of Russian gas to Europe.

Head of NJSC Naftogaz Andriy Kobolyev said this on the air of Radio NV, Kosatka.Media reports.  

The fact is that the companies involved in the construction of this gas pipeline get hit by sanctions, he recalled, specifically, companies that provide builders with special expensive and rare pipe-laying equipment, special ships.

“This is one of the most difficult techniques that are used in this process. There are only 4 places where you can rent this equipment. And blocking it with sanctions will most likely lead to a halt in construction”, Kobolyev explained.

 Another important point in this process is the work of insurance companies, Kobolyev noted. Companies owning such ships use insurance.

“Without insurance, going to sea on a ship that costs more than $1 billion is very risky. And the insurance companies, having learned about the sanctions, are likely to say that in this case the insurance coverage does not apply to them”, said the head of Naftogaz.

Recall, December 19, the next round of trilateral gas talks in Berlin took place. According to the results of the meeting, the parties noted that agreements in principal were reached regarding the details of the new gas agreement.

Tags: Gazprom, gas, Naftogaz, Nord Stream 2, Kobolyev, legislation, USA, gas transit, RF, sanctions, negotiations, Ukraine

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