Austrian Chancellor Karl Nehammer indicated on Monday that the Nord Stream 2 gas pipeline would be included in “massive” European Union penalties against Russia in the event of a Ukrainian invasion, according to a government spokesperson.
“The Chancellor said that in case of a Russian military invasion of Ukraine, there would be massive sanctions by EU, and NS II would be affected as well,” spokesperson Etienne Berchtold told CNN.
If Russia invades Ukraine again, “Russia would in principle be cut off from the international financial markets,” European Commission President Ursula von der Leyen told Germany’s ARD public television on Sunday evening.
A package of EU penalties against Russia has been “wrapped up over the last few days and weeks,” according to German Foreign Minister Annalena Baerbock.
The 750-mile pipeline was completed in September, but German regulators have yet to give it final approval. When fully operational, it will increase direct gas deliveries from Russia to Germany.
Since its announcement in 2015, the United States, the United Kingdom, Ukraine, and a number of EU countries have been vocal in their opposition to the pipeline, arguing that it will boost Moscow’s influence in Europe.