Nord Stream 2 could restore relations between US and Russia - FT

Former agent and close associate of Russian dictator Vladimir Putin, Managing Director Matthias Warnig, is working on a project to restart the Nord Stream 2 pipeline to Europe with the support of American investors.

This is a potential breakthrough in US-Russia relations, gaining particular relevance amid Donald Trump’s presidential campaign.

According to Financial Times sources familiar with the negotiations, Warnig initiated the deal, establishing contacts with Trump’s team through American businessmen.

His plan includes restarting the pipeline and aims for deeper economic cooperation between Washington and Moscow, including potential mediation in ending the war in Ukraine.

Senior officials in the Trump administration are familiar with the initiative involving American investors and see it as part of broader efforts to normalize relations between the US and Russia.

One of the potential consortiums working on ways to bypass sanctions on Gazprom is reportedly led by American investors.

European countries oppose the initiative

The proposal has raised concerns in Europe. Leaders of several European countries have already discussed the potential consequences of reviving Nord Stream 2.

One of the two pipeline lines was destroyed in a sabotage attack in September 2022, while the second line, with a capacity of 27.5 billion cubic meters of gas per year, remains intact but has never been put into operation.

"Well, now Russia will be dependable because trustworthy Americans are in the middle of it," a former senior US official familiar with some of the deal-making efforts sarcastically remarked.

Implementing this plan would require:

• Lifting US sanctions on Russia,
• The Kremlin’s agreement to resume gas supplies,
• Germany’s approval to receive gas into Europe.

Some American policymakers believe that the involvement of US investors in this deal could shift the balance of influence on the EU energy market.

However, numerous obstacles remain, including political risks and likely resistance from European nations, which have been working to reduce their dependence on Russian energy since the start of the war.

Nord Stream 2

Nord Stream 2 is a pipeline project designed to connect Russia to Germany via the Baltic Sea, bypassing transit countries such as Ukraine. The pipeline consists of two lines with a total capacity of 55 billion cubic meters of gas per year.

Germany’s then Vice-Chancellor and Minister of Economy, Sigmar Gabriel, first learned of Russia’s plans for the new gas pipeline in June 2015.

However, Slovak Prime Minister Robert Fico opposed its implementation. A year later, German officials were advised to reach out to Poland and Slovakia, as it was believed that if their interests were considered, their opposition would diminish.

Nevertheless, Warsaw and Bratislava opposed the project due to concerns that it would halt gas transit through their territories.