German government sources told Bloomberg that Germany was considering a package of response measures if Washington imposed new sanctions on the Nord Stream 2 pipeline project implemented jointly with Russia.
The agency quoted two German officials as saying that the government of German Chancellor, Angela Merkel, is considering passing coordinated measures with the European Union.
The agency said it had seen a document of the German Ministry of Economy stating that the new US measures, if taken, would deal a severe blow to more German and European companies and banks in addition to government agencies.
Earlier in June, a group of Democratic and Republican parties presented an initiative to expand sanctions against the “Nord Stream 2” gas pipeline project between Russia and Germany.
According to the legislation, these new sanctions target insurance companies that work with Russian ships to implement the project.
Republican Senator Ted Cruz, who is represented in the Senate of Texas and considered one of the main initiators of the sanctions against this project, said that he was “a vital threat to US national security and should not be accomplished.”
The “Nord Stream 2” project includes laying two tubes with a total capacity of 55 billion cubic meters of gas annually from Russia to Germany directly across the bottom of the Baltic Sea, and the total length of the line is about 1220 km, and it is supposed to be built in parallel with the “Nord Stream” pipeline.
The Russian project is facing opposition from some countries, particularly Ukraine, which fears the loss of revenues for the passage of Russian gas through its territory, and the United States, which seeks to market its gas in Europe.