Nord Stream 2 Construction to Press on Despite US Sanctions

The construction of the new Nord Stream 2 pipeline will go ahead despite the introduction of United States sanctions, the group behind the pipeline project announced Saturday.

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"Completing the project is essential for European security of supply. We, together with the companies supporting the project, will work to complete the pipeline as soon as possible," said the authorities in charge of the project.

Meanwhile, the Russian Foreign Ministry in a statement on Saturday said that Moscow "will continue to implement its economic projects regardless of anyone's sanctions."

The statements come after U.S. President Donald Trump signed the National Defense Authorization Act (NDAA) on Friday, a law that, among other initiatives, introduces sanctions on anyone involved in the Nord Stream 2 gas pipeline project.

The Swiss-based company AllSeas said in a brief statement that "in anticipation of the enactment of the NDAA, AllSeas has suspended its activities in laying the Nord Stream 2 pipeline.

German Finance Minister Olaf Scholz said Berlin “firmly rejects” U.S. sanctions but would not retaliate.

The U.S. has openly opposed the pipeline, which will transport natural gas across 1,200 kilometers. Washington, which has been trying to sell more of its own liquefied natural gas to European states, has said that Nord Stream 2 will make Europe too dependent on Russian supplies.

Gazprom, the Russian state-controlled gas company and one of the main sponsors of Nord Stream 2, already supplies more than a third of Europe's gas needs

The pipeline was expected to become operational in the first half of 2020. However, AllSeas has said that he would expect guidance on regulatory, technical and environmental issues from the U.S. authority.