Germany Takes Aim at Kremlin with Major Economic Move
Russia has invaded Ukraine. This is now undeniable, no matter how the Kremlin or Putin’s cronies wish to spin it. The Russian President signed an arbitrary treaty with two imaginary nations that exist within the globally accepted boundaries of Eastern Ukraine, and then summarily sent tanks and artillery into these made-up countries for “peacekeeping” purposes.
The move has prompted international anger at Moscow, after weeks of warnings from NATO, G-7, and others.
Now, while the US preps a massive first round of sanctions against Russia, Germany is taking one heck of an economic pot-shot at Putin.
Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine.
Europe’s most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and the European Union.
The pipeline had been set to ease the pressure on European consumers facing record energy prices amid a wider post-pandemic cost of living crisis, and on governments that have already forked out billions to try to cushion the impact on consumers.
The Kremlin undoubtedly predicted that such a move could be coming, as Putin himself appeared to indicate that he was unconcerned about economic sanctions and other fiscal repercussions of his actions in Ukraine.
