By Daniel DePetris
Nord Stream 2, the undersea Russian pipeline designed to transport more natural gas to Germany, is the energy project nearly everyone in Washington, D.C. loves to hate. Some lawmakers are going to great lengths to drill home their point. Sen. Ted Cruz, a co-author of mandatory sanctions legislation targeting the pipeline, blocked a vote on President Joe Biden’s nominee to lead the CIA, William Burns, over the issue. That hold that was lifted about two weeks later after Secretary of State Antony Blinken indicated all entities associated with the project were at risk of U.S. sanctions. Blinken reiterated this position during his latest meeting with NATO foreign ministers.
The $11 billion pipeline could theoretically double the amount of Russian gas that flows to Europe, boosting Moscow’s bottom line and providing Russian President Vladimir Putin with a potent geopolitical weapon to wield against the West. The question, however, is whether the benefits to the United States of destroying Nord Stream 2 are worth the costs, which have not been properly considered.
As frustrated as some lawmakers are with the pace of sanctions by the Biden administration, there are legitimate reasons to think twice before plunging into a full-scale economic assault against the project.
This piece was originally published in Real Clear World on March 26, 2021. Read more HERE.