Trump Forbids Russian Pipeline. Europe Pushes Back [Bloomberg Business News]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Bloomberg Business News
Nord Stream 2, the planned Russian natural gas pipeline to Germany across the floor of the Baltic Sea, is the latest front in the growing conflict between Europe and the U.S. The Wall Street Journal reported Thursday that President Donald Trump is demanding that Germany drop Nord Stream 2 as one of the conditions of a trade deal with Europe that wouldn't include high tariffs on steel and aluminum. The U.S. has long been opposed to the pipeline, citing Europe’s energy independence and the needs of Ukraine, whose role in gas transit from Russia would be undermined by the new route. This week, a U.S. official raised the possibility that the pipeline would allow Russia to install listening and monitoring technology in the Baltic Sea. That claim is a stretch as Nord Stream 2 is designed to run parallel to an existing Russian pipeline, Nord Stream 1, which Russia could easily use for espionage. Europeans have long suggested, however, that the U.S. government’s
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